• Wednesday, July 24, 2024
businessday logo

BusinessDay

Putin writes-off $23bn to further cozy up with Africa

Putin warns South Korea against sending military support to Ukraine

St Petersburg, Russia|| President Vladimir Putin of Russia said that Moscow has written off 23 billion dollars to relieve the debt burden of African countries, during the plenary session of the Russia-Africa Summit on Friday.

He said that Russia is also participating in efforts to relieve the debt burden of African countries. “To date, the total amount of debt we have written off is 23 billion dollars.

“According to the latest requests from African countries, we will allocate more than 90 million more for these purposes and their development,” he said.

This follows his promise to give six African nations up to 50,000 metric tons of free grain in the next three to four months despite Western sanctions on Russian exports.

Analysts see Putin’s moves as aimed at currying support from Africa amid numerous sanctions.

The second Russia-Africa Summit: Economic and Humanitarian Forum takes place in St. Petersburg on July 27-28, 2023.

Read also: Russia to supply 50,000 tonnes of grain to African countries for free — Putin

The programme includes panel sessions on cooperation and the development of relations between Russia and Africa in digital security, energy, food, education, culture, sports and other areas.

The forum’s goal is to broaden Russian-African cooperation and to outline long-term relationship strengthening with 49 African countries have confirming their participation.