President Muhammadu Buhari, GCFR

Coronavirus: Nigeria gets N8.9bn debt relief from Germany

Isola Moses | ConsumerConnect

As part of the country’s support to the fight against the spread of Coronavirus (COVID-19) in the most populous Black nation, Germany has granted Nigeria a debt relief worth €22.4 million (N8.9bn).

It was gathered that Germany, adjudged as the Europe largest economy, in a statement Tuesday, April 28, said the debt relief was besides its support of the global response to the battle against the ravaging pandemic.

ConsumerConnect reports that Germany indicated that the debt relief pledge for Nigeria is earmarked for the purchase of vital medical supplies, personnel training and facilitating cooperation across national and regional boundaries in the country.

The statement noted that “in 2020, the German treasury relieves Nigeria of debt repayments amounting to €22.4 million (N8.9bn).

“This comes in addition to Germany’s support to the COVID-19 response on a global level and the support provided by the European Union to partner countries in Africa worth €3.25 billion (N1.3 trillion).

“On April 27, Germany pledged €300 million (N120bn) to the global humanitarian response plan launched by the United Nations to fight COVID-19.”

The country as well observed that it has pledged a total of €12 million (N4.8bn) in additional support to the West Africa Health Organisation, the regional health institution of the ECOWAS (Economic Community of West African States).

Heiko Maas, German Foreign Minister, said: “Clearly, the current crisis goes beyond national and even continental borders and can only be fought effectively in a cooperative way.

“We need more international cooperation, not less.”

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