The Republic of China has granted the Democratic Republic of Congo some waivers on some of the debt it owed.
DR Congo’s Ministry of Foreign Affairs, International Cooperation and La Francophonie Relations said the waivers will help the central African country overcome the economic fallout from the Covid-19 pandemic.
The ministry did not say how much was forgiven, but the deal was announced during a visit to Kinshasa by Chinese foreign minister Wang Yi.
China has extended debt relief worth over $2bn to developing under a G20 framework known as the Debt Service Suspension Initiative (DSSI).
Beijing has extended loans amounting to $2.4bn to Kinshasa, mainly to build infrastructure, since 2000, according to the China Africa Research Initiative.
Some of the beneficiary countries include Angola, Ethiopia, Zambia and Djibouti.
Wang, who is on his 5-nation tour of Africa also met with President Felix Tshisekedi.
It was reported that the Democratic Republic of Congo had signed up to the Belt and Road Initiative (BRI), becoming the 45th African country to do so.
The program aims to build trade and infrastructure networks connecting Asia with Europe and Africa
Before arriving in Kinshasa, Wang had been in Abuja where he held meetings with Nigeria’s foreign minister and President Muhammadu Buhari.
He’s expected in Botswana later on Thursday.
