Monrovia — President Ellen Johnson Sirleaf says Liberia's development has been greatly impacted by the measures implemented by China under the China-Africa Cooperation initiative, as China has pledged US$10 billion in concessional loans to Africa.

Chinese Premier Wen Jiabao on Sunday announced the US$10 billion in new loans to African nations for the development of infrastructure and social programs.

He made the announcement at the start of the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) in the Egyptian resort of Sharm el-Sheikh.

"We will help Africa build up financing capacity. We will provide 10 billion dollars in concessional loans to African countries," Wen told the gathering of leaders-including Liberian President Ellen Johnson Sirleaf-from some 50 countries across Africa.

The loans are to be distributed over the next three years.

"I came to Sharm el-Sheikh to boost friendship between our country and the African continent ... Whatever change may take place in the world ... our policy of supporting Africa's economic and social development will not change," Wen said.

The two-day FOCAC meeting, opened by the Egyptian President Hosny Mubarak, is to follow up on the implementation of recommendations from the last summit in Beijing in 2006.

China's 10-billion-dollar loan is double that offered at the Beijing summit and in line with an earlier promise to the African continent.

President Sirleaf, Ministerial Conference of FOCAC highlighted the many ways in which Liberia has benefited from the partnership with China.

She enumerated China's contributions to Liberia's debt relief program under the HIPC arrangement; the establishment of an Anti-Malaria Center and malaria teams at the JFK Medical Center; the construction of new facilities at the University of Liberia Campus, a modern hospital at Tappita (Nimba), and an Agricultural Technology Demonstration Center to train technicians and farmers. She also named the three modern primary schools in high-population communities in Bomi and Montserrado Counties; participation in the UN peacekeeping force and the construction of military barracks for the army; youth volunteers to serve in Liberia; and scholarships to over 100 Liberian students to attend universities in China.

The President went on to say that Liberia continues to encourage Chinese business entities to invest in the country's vast natural resources and to join in private sector endeavors.

"Liberia counts China as a friend and strategic partner," the President said, "and would continue to strengthen the relationship through bilateral and multilateral programs which encompassed mutual benefits and respect."

President Ellen Johnson Sirleaf was among 18 Heads of State and Government and other ranking officials to address the Conference's opening ceremony. President Hosny Moubarak, Co-Chair of FOCAC and host of this year's Conference, and Prime Minister Wen Jiabao, the other Co-Chair, opened the Conference.

As African leaders listened attentively to hear what new measures China would announce, Chinese Premier Wen outlined eight new interventions his Government intends to implement in furtherance of FOCAC.

These included: a China-Africa partnership to address climate change by building 100 clean energy projects across Africa; to enhance cooperation with Africa in science and energy by building 100 joint demonstration projects in science and technology, and offering 100 post-doctoral fellowships for research in science and energy.

Besides the provision of US$10 billion in concessional loans to Africa-part of which would support Chinese facilities working with small and medium businesses (SMBs)-China would cancel all debts expiring at the end of 2009 for highly indebted poor and least developed African countries having diplomatic relations with it.

In agriculture, China would increase the number of Agricultural Technology Demonstration Centers to 20; would send 50 agriculture technical teams to Africa; and 2,000 agricultural personnel from Africa would be trained in China.

In the health sector, China would provide equipment valued at 500 million Yuan to hospitals built by the Chinese, and would train 3,000 doctors for Africa.

In education, it would build 50 China-Africa Friendship Schools, train 1,500 principals and teachers, increase the number of scholarships to 5,500, and train 20,000 professionals across various disciplines over three years (2010-2012).