“No one should malign it based on imagination or assumptions.”Xi also said that instead of “vanity projects,” the funds will go towards commercial and environmentally-sustainable development. Of the $60 billion, $15 billion will be in aid, $20 billion in credit and around $15 billion in various, specific funds. Chinese firms will also be encouraged to invest $10 billion in Africa over the three years, said Xi. China has been the continent’s largest trading partner since 2009, lending African countries about $125 billion in the decade from 2006 to 2016, reports the Financial Times. “Chinese debt has become the methamphetamines of infrastructure finance: highly addictive, readily available, and with long-term negative effects that far outweigh any temporary high,” wrote former Barack Obama adviser Grant Harris in Time magazine last week.