China considers loan repayment exemption for some African countries

CHINA will exempt some African countries from repaying zero-interest rate loans due at the end of 2020, Reuters reported on Wednesday, quoting President Xi Jingping’s speech at a summit.

Under the framework of the China-Africa cooperation forum, China will further extend loan payment forbearance for some countries including African countries, Xi told the China-Africa summit.

China is willing to give priority to African countries once COVID-19 vaccines are ready to use, Xi added.



    The summit attended by President Muhammadu Buhari and other African leaders virtually was on China- Africa Solidarity Against COVID-19 pandemic.

    Buhari while speaking at the summit, commended António Guterres, the UN Secretary General,  for launching a COVID-19 Response and Recovery Fund for low and middle-income countries to tackle the health emergency, address social and economic consequences of the crisis and, strengthen the recovery efforts of most vulnerable countries

    He further pledged Nigeria’s supports to join any joint and collective action plan at regional and global levels to tackle this pandemic and its fallout.

    “In these endeavors, we must not fail because the lives and livelihood of our peoples depend on our collective efforts,” the Nigerian president said.

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