China is preparing to close a $4.4 billion deal which covers a range of projects in oil and mineral sectors.

The deal comes at a time the Guinea is facing near sanctions from the European Union and the African Union because of it's continued failure to hold free elections.

The deal to be financed by China International Fund will mostly be in soft loans. Guinea, the world's largest exporter of bauxite, also has huge uranium, iron ore and diamonds deposits. The west African country is also believed to have off-shore oil reserves.

China's policy of de-linking trade from political reform and human rights issues has paid huge dividends. It's footprint across Africa includes investment in mining, oil, infrastructure and construction.

Rwanda's President Paul Kagame praised Chinese investment for helping Africa to develop. He was quoted in this article saying: "I would prefer the Western world to invest in Africa rather than hand out development aid."