China has waived some of the debt owed to it by the Democratic Republic of Congo, to help the central African country overcome the economic fallout from the coronavirus pandemic, Congo’s foreign affairs ministry said on Wednesday.
The ministry did not say how much was forgiven.
The deal was announced during a visit to Kinshasa by Chinese foreign minister Wang Yi.
Beijing has extended loans amounting to $2.4bn to Kinshasa, mainly to build infrastructure, since 2000, according to the China Africa Research Initiative.
China has extended debt relief worth over $2bn to developing under a G20 framework known as the Debt Service Suspension Initiative (DSSI).
Some of the beneficiary countries include Angola, Ethiopia, Zambia and Djibouti.
Wa…
Read the full article at: https://www.africanews.com/2021/01/07/china-waives-congo-debt-to-ease-stress-on-economy/
