China could cancel some debt of Nigeria and other African countries

debt

To help African countries cope with the adverse effect of the Novel Coronavirus, China said it is looking at canceling debts owed by some African countries, which by extension could include Nigeria.

In a news broadcast that quoted President Xi Jingping, China said it will exempt some African countries from repaying zero-interest rate loans due at the end of 2020.

The announcement was broadcast China’s state television which cited 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 said it is willing to give priority to African countries once COVID-19 vaccines are ready to use.

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