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China to Exempt Some African Countries From Repaying Loan

During the extraordinary China-Africa summit held on Wednesday, the President of China, Xi Jinping, said China will exempt some African countries from repaying zero-interest-rate loans due at the end of 2020.

During the extraordinary China-Africa summit held on Wednesday, the President of China, Xi Jinping, said China will exempt some African countries from repaying zero-interest-rate loans due at the end of 2020.

Also, China will further extend loan payment forbearance for some countries including African countries once coronavirus vaccines are available for use.

The China-Africa summit on solidarity against covid-19 was presided over by the Chinese President and jointly organised by China, South Africa (the rotating chair of the African Union) and Senegal (co-chair of the Forum on China-Africa Cooperation.

The summit was held via video conference and attended by the chairperson of the AU Commission, leaders of African countries, members of the AU Assembly, rotating chairs of major African sub regional organisations, Secretary-General of the UN and Director-General of WHO.