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.
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.
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.
