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Why Russia cancels $23bn debt for African countries –Putin

Russian President Vladimir Putin

*Russian President Vladimir Putin explains his country has offered assistance to Africa to combat threats, including terrorism, piracy, and transnational crimes aside from giving further training to personnel from the African continent

Gbenga Kayode | ConsumerConnect

Russian President Vladimir Putin says the Russian Government has lifted $23 billion debt burden of African countries.

The Russian leader disclosed this development at the plenary session of the second Russia–Africa Summit 2023 held from July 27 to July 28, 2023.

The News Agency of Nigeria (NAN) is one of the media partners of the summit, and Mr. Buki Ponle, Managing Director of NAN, also attended the event.

Putin also said that Moscow would allocate $90 million additional fund for these purposes.

It is noted that Russia invaded Ukraine early 2022, and the country’s troops have continued to shell public, private institutions and facilities with damaging consequences on millions of Ukrainians.

These involve deaths of several millions of people, including children, as well as agonising socio-economic dislocations for millions of Ukrainians till this day.

ConsumerConnect gathered the Russian President explained his country offered assistance to Africa in countering threats, including terrorism, piracy, and transnational crimes adding that it would continue to train personnel from African countries.

Putin said Russia was advocating expansion of representation of African countries in the UN Security Council and other UN structures, agency report said.

The Russian leader stated: “Russia and Africa strive to develop cooperation in all areas and strengthen ‘honest, open, constructive’ partnership.

“Russia will also assist in opening new African embassies and consulates in Russia.”

According to him, the reopening of embassies in Burkina Faso and Equatorial Guinea is going as planned.

Putin further noted sovereignty is “not a one-time achieved state,” and it must be constantly protected.

Russian businesses, he said, have a lot to offer partners from Africa.

Putin said transition to national currencies and the establishment of transport and logistics chains would contribute to the increase in mutual trade turnover.

“Russia is ready to provide trade preferences to Africa, support the creation of modern production sectors, agricultural sector, and provide assistance through relevant international structures and agencies.

“Russia will always be a responsible international supplier of agricultural products.”

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