Despite China’s economic slowdown, Beijing says it plans to keep its pledge regarding investing $60 billion in Africa over 3 years, China’s ambassador to Ethiopia, La Yifan, said on March 16.

“In spite of all the doubts, I can share with you that the relevant government departments, development banks, and insurance companies in China are engaging… their African counterparts on how to make this grand plan come to fruition,” he told Reuters in Addis Ababa which hosts the African Union.

At the 6th Forum on China Africa Cooperation (FOCAC) in Johannesburg last December, China’s President Xi Jinping pledged $60 billion for Africa’s development. He added that the funding would be used to finance infrastructures development and write off part of Africa’s debt to China.

China’s economy grew 6.9% in 2015, its slowest pace in quarter of a century.

Yifan even said that the slowdown could benefit Africa. “While the Chinese economy is shifting gears, all those major industries that have powered the explosion of Chinese infrastructure over the past 30 years have to find a new place to invest. So where are the most ideal places for those investments? African countries,” he said.