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Russia Nullifies $23 Billion Debt for Africa – Putin

Chadwick 08.01.2023


A groundbreaking decision has been made; Russian President Vladimir Putin announced that the Russian government has decided to write off African countries' $23 billion debt burden. At the second Russia-Africa Summit, Putin emphasized the importance of strengthening the partnership between Russia and Africa.

Russia has signed agreements with 40 African countries, thanks to Putin

As part of this commitment, Putin pledged an additional $90 million to support African countries. He also expressed Russia's support for expanding the representation of African nations in the UN Security Council and other UN structures.

Furthermore, Putin highlighted Russia's willingness to assist in establishing new African embassies and consulates in Russia. He noted that the reopening of embassies in Burkina Faso and Equatorial Guinea is progressing as planned.

Russian President Vladimir Putin speaks at a session of the Russia-Africa summit in Saint Petersburg, Russia, July 27, 2023

Putin emphasized the need to protect sovereignty, stating that it is an ongoing process that requires constant vigilance. He assisted Africa in countering threats such as terrorism, piracy, and transnational crimes, reaffirming Russia's commitment to training personnel from African countries.

Regarding economic cooperation, Putin emphasized the potential for increased mutual trade turnover by transitioning to national currencies and establishing efficient transport and logistics chains. He also expressed Russia's readiness to provide trade preferences, support the development of modern production sectors and agriculture, and offer assistance through relevant international structures and agencies.

Russian President Vladimir Putin shakes hands with Mozambique President Fillipe Nyusi

Lastly, Putin assured African partners that Russian businesses have much to offer, highlighting Russia's commitment to being a responsible international supplier of agricultural products.

Putin's announcement signifies Russia's dedication to fostering a strong and mutually beneficial relationship with Africa, focusing on economic development, security cooperation, and diplomatic ties.



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