Chinese leader Wen Jiabao says China will pledge $10 billion U.S. dollars in low-interest loans to African nations over the next three years.

The announcement came yesterday, at the start of a two-day China-Africa summit in Egypt.

Wen also said they would cancel the debt of some of Africa’s poorer nations, and help build 100 clean energy projects throughout the continent. But the debt forgiveness will be limited only to those nations with political alliances with the Chinese regime. Critics say the financial support is conditional. The nations involved must fully back the Chinese regime’s political policy, to the extent of renouncing ties with Taiwan.

Some Western critics say the Asian giant is mostly after oil and mineral resources to fuel its bustling economy. They also accuse the Chinese regime of providing financial backing and weapons to repressive governments, with atrocious human rights records, like Zimbabwe and Sudan.

Leaders Robert Mugabe of Zimbabwe and Omar al Bashir of Sudan were both present during Wen's speech on Sunday.

Most African nations have diplomatic ties with the Chinese regime.