Putin Pardons Poorest African Countries - Forgiving $20 Billion Debt

Putin pardon's Africa's poorest countries

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Russian President Vladimir Putin has written off debts totalling $20 billion dollars owed by some of Africa’s poorest nations.

In a historic move, Russia told the United Nations that in order for Africa to thrive, wealthy countries need to alleviate the debt burden of African countries.

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“Our country is taking steps to alleviate the debt burden of African countries. The debt for the heavily indebted poor countries has been written off by more than $ 20 billion, inclusive of “debt-for-development” programs,” said Russia’s deputy ambassador Dmitry Polyansky during his speech at the meeting of the Security Council on the situation in the Democratic Republic of the Congo.

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Fort-russ.com reports: He added that the Russian Federation is allocating funds for the implementation of international assistance programs for African countries through the IMF, the World Bank, WHO, the United Nations Children’s Fund, the World Food Program and the International Civil Defense Organization.

“We also render assistance in the field of healthcare, our country was one of the first to react to the epidemic of the Ebola fever, allocating over $ 60 million for fighting it,” the Russian diplomat noted.