The FINANCIAL -- According to RIA Novosti, Chinese Prime Minister Wen Jiabao pledged on November 8 that China would give $10 billion to African countries in concessional loans in the next three years.

"We'll help Africa build up its financial potential," Wen said at a three-day forum of the China-Africa Cooperation that opened in Egypt's Red Sea resort of Sharm el-Sheikh.

The forum is expected to discuss economic and other forms of cooperation between China and Africa. In particular, China is interested in the vast African market for the sale of its goods, and is also seeking African energy sources.

According to official Chinese figures, trade between China and Africa soared 45%, year-on-year, in 2008 to a record $106 billion. The number of countries, with which China boasted more than $1 billion in trade increased from 14 in 2007 to 20 in 2008.

Angola remained China's largest trading partner in Africa while South Africa came second.

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