Russia Cancels $23 Billion Debt for African Countries

Russian President Vladimir Putin, speaking on the second day of the Russia-Africa Summit, stated that the countries share strong friendly ties. He noted that Moscow has canceled a total debt of $23 billion for African countries, according to kommersant.ru.

According to Putin, Moscow intends to continue assisting in the development of the African continent and will allocate approximately $90 million for African nations for this purpose.

“Russia is participating in efforts to ease the debt burden of African countries. To date, the total amount of debt forgiven by us is $23 billion. At the request of African countries, we will allocate more than $90 million for development purposes,” the state leader said.

It is worth noting that State Duma deputy Mikhail Delyagin had previously told RBC that since 1992, Russia has canceled approximately $152 billion in debt to various countries. Officially, the authorities of the Russian Federation have not confirmed this information.