The Russian Government has announced the cancellation of African countries’ $23 billion debt.
President Vladimir Putin made the declaration during the second plenary session of the Russia-Africa Summit held from July 27 to July 28.
In addition, Russia will allocate an extra $90 million to support the countries.
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Putin emphasized the need to expand African representation in the United Nations Security Council, UNSC, and other United Nations, UN structures.
He said:
“Russia and Africa strive to develop cooperation in all areas and strengthen ‘honest, open, constructive’ partnership.
“Russia will also assist in opening new African embassies and consulates in Russia.”
He expressed Russia’s commitment to fostering a strong partnership with Africa, offering assistance in establishing new African embassies and consulates in Russia.
Furthermore, Russia pledged to assist Africa in combating terrorism, piracy, and transnational crimes, while continuing to provide training for personnel from African nations.
Russian businesses were also eager to collaborate with African partners, presenting numerous opportunities for cooperation.
The President said:
“Russia is ready to provide trade preferences to Africa, support the creation of modern production sectors, agricultural sector, and provide assistance through relevant international structures and agencies.
“Russia will always be a responsible international supplier of agricultural products.”
