Photo source: Al Jazeera
Democratic Republic of the Congo (DRC) has been granted debt relief by China. This has been done to support them during their economic depression. The economic depression is due to the coronavirus pandemic. This has been informed by the Congolese foreign ministry said on Wednesday. As a result, the DRC won’t need to repay its interest-free loans from China. The interest that matured at the top of 2020. The ministry didn’t say what proportion this amounted to.
China has extended debt relief worth over $2bn to developing countries. This has been done under a gaggle of 20 (G20) framework. It is aimed toward giving support to those who were damaged by the COVID-19 crisis some financial breathing space. The latest deal was announced at a joint news conference in Kinshasa with Chinese secretary of state Wang Yi.
Data source: Al Jazeera
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