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Chinese Government plans to forgive some loan interest for 17 African countries

Chinese Government in a statement has revealed their intentions to assist struggling nations with food assistance.

This was made known by Mr Wang the Chinese Foreign Minister in a Forum on China-Africa Cooperation.

The statement reads: "China will waive the 23 interest-free loans for 17 African countries that had matured by the end of 2021. 

"We will also continue to increase imports from Africa, support the greater development of Africa’s agricultural and manufacturing sectors, and expand co-operation in emerging industries such as the digital economy, health, green and low-carbon sectors."

"What Africa wishes for is a favourable and amicable cooperation environment, not the zero-sum Cold War mentality,” According to Mr. Wang.

"So far this year, China has signed exchange of letters with 12 African countries on zero tariff for 98% of their export items to China. We have provided emergency food assistance to Djibouti, Ethiopia, Somalia, and Eritrea. More African agricultural produce has reached the Chinese market through the green lanes."

Though the amount of the loans and the countries were not stated.

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