Chinese President Xi Jinping has announced that the country will cancel its interest-free loans to African countries that are due to mature by the end of 2020 in a bid to support the continent during the Covid-19 pandemic. He further added that countries that were hardest hit by the pandemic will further be given an extension on the period of debt suspension and that he has also urged financial institutions in his country to also negotiate arrangements for commercial loan repayments with African states.
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