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Establishing a China-Africa Development Fund(CADFund) to encourage and support Chinese enterprises to invest in Africa was one of the eight measures implemented to strengthen China-Africa cooperation pledged by China at the Beijing Summit of the Forum on China-Africa Cooperation(FOCAC) in 2006. The Fund became operational in June 2007 with a first-phase funding of $1 billion provided by China Development Bank(CDB).The funding is expected
Establishing a China-Africa Development Fund (CADFund) to encourage and support Chinese enterprises to invest in Africa was one of the eight measures implemented to strengthen China-Africa cooperation pledged by China at the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC ) in 2006. The Fund became operational in June 2007 with a first-phase funding of $ 1 billion provided by China Development Bank (CDB). The funding is expected