Africa

China to forgive 23 ‘belt and road’ loans to 17 African countries – Pinsent Masons

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China will continue to help with the construction of major infrastructure projects in Africa via financing, investment and assistance, the minister said in a speech at a recent meeting of the China-Africa cooperation forum.
The country will also be increasing imports from Africa, helping to develop Africa’s agricultural and manufacturing sectors, and expanding co-operation in emerging industries such as the digital economy, health, and green and low-carbon sectors.
The latest announcement follows China’s cancellation of at least 94 interest-free loans amounting to over US$3.4 billion in Africa between 2000 and 2019.
Finance expert Kanyi Lui of Pinsent Masons said: “China has been forgiving interest-free loans made to developing countries for almost half a century. When many African countries experienced debt distress in the 1980s to 1990s, China forgave over 85% of interest free loans then outstanding. This latest announcement shows China’s continued leadership in working with developing countries in debt distress.” 
“As the BRI [Belt and Road Initiative] starts to shift its focus from mega infrastructure projects to ‘small and beautiful’ projects which focus on sustainability, raising living standards and social impact, developing countries would do well to carefully consider their own their interests and developmental needs and how to engage with China in a manner that would maximise the welfare of their people,” he said.
As of 2020, the African nations with the highest external debt to China as a percentage of gross national income are Djibouti (43%), Angola (41%) and the Democratic Republic of Congo (29%), according to World Bank data cited in press reports.

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Global community urged not to let Ukraine crisis affect support for African nations

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ISTANBUL The international community has been urged to ensure that the fallout from the Ukraine crisis should not have an impact on global support for African nations.A joint statement released after a meeting of the Forum on China-Africa Cooperation on Thursday held virtually and addressed by China’s Foreign Minister Wang Yi, urged the international community to “actively help African countries address food security, climate change, energy crisis and other global issues.”Expressing support for a peaceful negotiation between Russia and Ukraine, the statement called on the international community not to “level down support and input to Africa because of the Ukraine issue.”Russia launched a war on Ukraine in February of this year, resulting in hundreds of deaths on both sides and millions fleeing the country, affecting global supply chains, especially energy and food supplies.However, thanks to the efforts of Türkiye and the UN, a grain corridor with a coordination center in Istanbul has been established, allowing food supplies from Ukraine and Russia to reach the rest of the world.“The two sides urge the international community to take seriously Africa’s concerns on expanding development financing and promoting economic recovery, accelerate the channeling of Special Drawing Rights, in a bid to help Africa achieve independent and sustainable development,” the statement said.Wang told the forum that China supports the African side in implementing the “Silencing the Guns” initiative as the two sides noted that the world is facing growing security challenges, condemning all forms of terrorism and violent extremism.Reciprocal supportReaffirming their commitment to the principle of non-interference in internal affairs, the Chinese side urged the international community to “provide financial and technical support to counter-terrorism operations led by Africa in accordance with the mechanisms of the African Peace and Security Architecture.”Expressing support to uphold the purposes and principles of the UN-centered international system, the statement urged upholding “equality among all countries regardless of their size, strength and wealth.”Without mentioning any country, the two sides opposed unilateralism, power politics, racial discrimination, the formation of opposing blocs, and division and confrontation.The statement reaffirmed their mutual support for territorial integrity, sovereignty, security, and development interests, saying “there is but one China in the world … Taiwan is an inalienable part of China’s territory, and the government of the People’s Republic of China is the sole legal government representing the whole of China.”“The African side reaffirms its commitment to the one-China principle, and its support for China’s national reunification and China’s efforts to safeguard the sovereignty and territorial integrity,” it added.China and African nations also said they will continue to fight COVID-19 with “solidarity, deepen practical cooperation, promote green development, uphold equity and justice.”According to the statement, the two sides will synergize China’s multi-billion-dollar Belt and Road Initiative, the Global Development Initiative with the African Union’s Agenda 2063, and national development strategies of African countries, “in order to elevate China-Africa cooperation to higher levels.”​​​​​​​

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Presidents Ramaphosa and Ouattara ‘pleased’ to see Ukrainian grains deal signed

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The President of Ivory Coast, Alassane Ouattara, visited South Africa on Friday.
Outtara was welcomed by his South African counterpart, President Cyril Ramaphosa in the capital, Pretoria.
The visit coincided with a UN and Turkey-brokered agreement to allow Ukraine and Russia to export grain and fertilizers. 

“It has taken much too long, in my view, because that conflict has put a stop to the import or exportat of grain, fertilizers and other foodstuffs like wheat to various other parts of the world. And we are therefore pleased. That this may indeed in the end become a reality. Would this be seen as signalling something that could amount to the end of that conflict? I would like to believe that, yes”, said South African President Cyril Ramaphosa. 
Referring to Mali, the Ivorian president rejected earlier suggestions that his country was interfering in its neighbour. 
The accusations were linked to the detention of a group of Ivorian soldiers accused of being mercenaries.
” Ivory Coast cannot afford to attempt to destabilize any country and especially not a neighboring country (such as Mali). And they are the same peoples, the same population. The relationships are close, are very close. We use the same currency, we use the same legal framework, etc. It (Mali) is a friendly country and brother and sister populations. Therefore, there isn’t any question about us engaging in any attempt to destabilize”, reassured Alassane Ouattara, President of Ivory Coast.
During the visit to South Africa, the two presidents signed a number of agreements and Ouattara addressed the South Africa – Ivory Coast Business Forum.

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