China to exempt some African countries from repaying zero-interest loans

China will exempt some African countries from repaying zero-interest rate loans due at the end of 2020, state television reported on Wednesday, quoting 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 on Wednesday.

China is willing to give priority to African countries once COVID-19 vaccines are ready to use, Xi added.

The Chinese President had presided over an extraordinary China-Africa summit on solidarity against COVID-19 in Beijing on Wednesday, and delivered a keynote speech.

The summit was jointly organised by China; South Africa, the rotating chair of the African Union (AU); and Senegal, co-chair of the Forum on China-Africa Cooperation.

The conference was held via video link.

Leaders of African countries, including members of the AU Assembly of Heads of State and Government and rotating chairs of major African subregional organisations; and the chairperson of the AU Commission attended the summit. (Reuters/NAN)