China will exempt some African countries from repaying certain loans

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BEIJING (Reuters) – China will exempt some African countries from repaying zero-interest rate loans due at the end of 2020, state television reported on Wednesday, quoting President Xi Jingping’s speech at a summit.

Under the framework of the China-Africa cooperation forum, China will further extend loan payment forbearance for some countries including African countries, Xi told the China-Africa summit.

China is willing to give priority to African countries once COVID-19 vaccines are ready to use, Xi added.

Reporting by Leng Cheng and Colin Qian in Beijing, Meg Shen in Hong Kong; Editing by Kevin Liffey

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