China cancels $6 million debt to Rwanda, offers extra grants

Rwanda and China have signed agreements where the Asian country will cancel its $6 million loan to Rwanda as part of efforts to push the country’s transformation and recovery from the impact of the Covid-19 pandemic.

China, based on theses the agreements will also provide Kigali with a grant worth $60 million.

According to the Rwandan Minister of Finance and Economic Planning, Uzziel Ndagijimana, the new grant will free some resources that were otherwise going to be used for debt payment.

“We appreciate this support by the Government of the People’s Republic of China during these challenging times caused by Covid-19 pandemic,” he said.

Speaking at the occasion, Rao Hongwei, the Ambassador of China to Rwanda, said: “China hopes that by extending the new financial support, to make contribution to Rwanda’s all-round transformation and recovery from the maligning impact of the Covid-19 pandemic”

“The comprehensive cooperation between the two countries, especially in the economic field, has been tremendously diversified and intensified,” he said.

“In these times of major new opportunities and challenges, we are ready to work with Rwandan friends to forge new opportunities out of crises, make new advances amid changes, and build an even more glorious tomorrow for China-Rwanda relation.”

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