Debt-Trap Diplomacy: China Waives Off Debts Owed by 17 African Countries
China has officially announced that it will forgive 23 loans for 17 African nations. China waives off debts of the African nations, which are interest-free and had matured by the end of 2021. Chinese FM Wang Yi announced this at the Forum on China-Africa Cooperation. He has further pledged that China would continue to actively support and finance major infrastructure projects in Africa in agricultural and manufacturing sectors. China will aid towards expanding co-operation in emerging industries such as the digital economy, health, green and low-carbon sectors. Facts and figures of the debts China waives off debts in Botswana, Burundi, Rwanda, Cameroon, the Democratic Republic of Congo, Mozambique among the 23 countries. The total amount of waived off debt stands at least at US$113.8...
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