The Russian government has written off over $20 billion of debt historically owed by African nations, President Vladimir Putin said on Friday.President Putin who announced the debts forgiveness at a plenary session of the Russia-Africa forum in St. Petersburg, also said that Moscow would allocate more funds to help with the development of the continent, according to RT report. The total amount of debt of the African countries written off by Russia amounts to $23 billion dollars with another $90 million to be allocated for the same purposes,” Putin stated, with reference to historical trade and finance links between Moscow and Africa. On Thursday, the president said Russia would provide hard-pressed countries on the continent with free grain. Burkina Faso, Zimbabwe, Mali, Somali, the Central African Republic, and Eritrea will each receive between 25,000 and 50,000 tons of grain, while Moscow will cover the delivery costs of the shipments. In March, the Russian leader highlighted the growth of mutual trade between Russia and African countries, saying it could open up additional opportunities for the process of establishing the African Continental Free Trade Area (AfCFTA).
Launched in 2021, the AfCFTA is expected to become a continental market with a total GDP of more than $3 trillion, making Africa one of the leaders of the multipolar world.
According to Putin, Russia is in favor of establishing ties with AfCFTA both through the Eurasian Economic Union and on a bilateral level.

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This Russia/Ukraine war has indeed broadened the minds of most countries that have always felt like the world revolves around the US, and the major power blocs amongst the first world countries are suddenly beginning to see the need to court African countries inorder to widen their bilateral ties.

While China is giving humongous loans with small interests and facilitating massive infrastructural developments in the African continent, Russia is making inroads with their own loans and helping the continent achieve food security and the US is busy organising events to speak plenty grammar on malaria and malnutrition.

Before the US recovers from the emptiness that is the Biden's administration, they would have lost a lot of the friendships and allegiances of a lot of countries to their rivals.

How I wish they help us complete our steel industries

Ajaokuta Steel rolling mills is key to Nigeria's development.

Africa dey always owe white countries'' we only breed thieves and oloshos''
'''23b dolls''
But i want america and russia to fight, i want to check something.

Why are they still calculating the money in dollars

Hehehe.

African leader's are gluttonous. They borrow only for one reason, which is to loot the whole money borrowed.

How I wish they stop giving them these loans, until they see a result of the ones they borrowed.

talented321:
Africa dey always owe white countries'' we only breed thieves and oloshos''
'''23b dolls''
But i want america and russia to fight, i want to check something.

This shows you're naive...even America is owning trillions of dollars

Ayebe

MICHEALADEX:


This shows you're naive...

what do you have to explain to me.

BoldBrainz:
This Russia/Ukraine war has indeed broadened the minds of most countries that have always felt like the world revolves around the US, and the major power blocs amongst the first world countries are suddenly beginning to see the need to court African countries inorder to widen their bilateral ties.

While China is giving humongous loans with small interests and facilitating massive infrastructural developments in the African continent, Russia is making inroads with their own loans and helping the continent achieve food security and the US is busy organising events to speak plenty grammar on malaria and malnutrition.

Before the US recovers from the emptiness that is the Biden's administration, they would have lost a lot of the friendships and allegiances of a lot of countries to their rivals.

Civilization began on the African continent so you guys had a head start in development. Hundreds of years later, you’re praising the Yellow man for giving you loans and building infrastructure and the White man for loans and giving you grain like chickens. African nations shouldn’t need loans, help to build infrastructure, and grain from the White man—you should be self-sufficient but you’re here bragging about it. African nations are shameless.

1stGenAmerican:


Civilization began on the African continent so you guys had a head start in development. Hundreds of years later, you’re praising the Yellow man for giving you loans and building infrastructure and the White man for loans and giving you grain like chickens. African nations shouldn’t need loans, help to build infrastructure, and grain from the White man—you should be self-sufficient but you’re here bragging about it. African nations are shameless.

Trust me, we are indeed ashamed!

We are ashamed that the democracy we've been burdened with has only gone a long way to benefit and enrich a small class of elites and politicians, at the expense of the masses.

We are ashamed that greed has festered and blossomed into unmitigated corruption that has held our continent spell-bound and inhibited any form of commendable progress.

We are ashamed that decades after independence, our democratic leaders are still being railroaded like lambs to the slaughter by the same colonialists, simply because these our politicians seek pecuniary gains.

We are ashamed that since Nigeria was amalgamated in 1914, we're still stuck in that rot where ethnicity and religion are weapons being wielded to divide and conquer the populace.

We are ashamed that every peaceful efforts we have made towards liberating the Nigerian state from the shackles of deprivation and impoverishment, have been forcefully stampeded or swept away with propaganda.

We are ashamed that we are a resourceful continent that is unable to achieve growth and fulfilment by utilising our god-given resources because we are trapped in a vicious circle of oppression by the Western countries, acting through our shameless politicians.

We are ashamed that even our votes do not count. Our voices can not be heard. Our electoral choices are thrown out the window by thieving and marauding septuagenarians and octogenarians who have looted enough of our resources to control our institutions.

Believe me my sister, there's no feeling we have now, other than that of shame and helplessness.. !

1stGenAmerican:


Civilization began on the African continent so you guys had a head start in development. Hundreds of years later, you’re praising the Yellow man for giving you loans and building infrastructure and the White man for loans and giving you grain like chickens. African nations shouldn’t need loans, help to build infrastructure, and grain from the White man—you should be self-sufficient but you’re here bragging about it. African nations are shameless.

🤙 🤙 🤙 👅 👅 👅 🍆🍑