President, Vladimir Putin, has written off $20 billion of accumulated debt owed by African countries during the Soviet era.
Putin said this during the Russia-Africa forum in Sochi.

He added that the funds from those debts were being used to set up special programmes to support Africa’s economic development.

“Russia had recently written off $20 billion of debt owed by African countries,” Putin said, adding, “funds from those debts were being used to set up special programmes to support Africa’s economic development.”

“It was not only an act of generosity but also a manifestation of pragmatism because many of the African states were not able to pay interest on these loans,” he said.

The Russian president also said Africa was attractive to Russian businesses as many of the countries have become centres of economic growth.

President Putin also said that the Russian Federation would work with Africa to support the implementation of the African Continental Free Trade Area agreement, in particular by supporting collaboration with the Eurasian Economic Union.

In his own contribution, Abdel Fattah Al-Sisi, President of Egypt and current Chairman of the African Union, said Africa was embarking on a new phase of economic development.......https://newsgenienaija..com/2019/10/russia-paid-off-20-billion-debt-owed-by.html

Nice one from Russia.. I've always love this country and I don't even know why.
Thank you Russia

Russia are planning to break into Africa market but they have a long way to go, America and China ti take over....

obinoral1179:
Russia are planning to break into Africa market but they have a long way to go, America and China ti take over....

to me I think Russia is honest in dealings than America and China

No God’s plan

Thisis2raw:
to me I think Russia is honest in dealings than America and China

no country is honest but I will always pick America as the better devils if you know the history of Russia during the 20th century you will embrace America

Thisis2raw:
to me I think Russia is honest in dealings than America and China

who told you?

Blackvic1:
no country is honest but I will always pick America as the better devils if you know the history of Russia during the 20th century you will embrace America

yes, US is essential evil

Classic Russian negotiation manoeuvre is what this latest US$20 billion debt forgiveness is.

This was the same tactic deployed by Putin in his negotiations with North Korea about 4/5 years ago(around 2014) when Russia wanted to get North Korea to open up certain areas of North Korean economy and economic projects to Russia business concerns.
As a matter of fact, Russia went as far as going on to write off about $11 billion of North Korean debts dating back to the era of the Soviet Union.

Here, I see Putin and Russia deploying the same tactics in their dealings with African States. The drill is all too familiar to me.

Russia has over the years always proven to be a reliable ally any country can have. They don't abandon their friends even when the rest of the world do so. Syria, North korea are typical examples. Unfortunately, Nigeria has always isolated herself from Russia due to her relationship with Britain. It is possible to benefit from every country in the world, even without being a friend to them. I am glad the Buhari govt visited and also trying to improve our relations with Russia. May God bless Nigeria.

Blackvic1:
no country is honest but I will always pick America as the better devils if you know the history of Russia during the 20th century you will embrace America

tell me one or two. I'll like to knw

We should have being dealing with russia and china for a long time

Thisis2raw:
tell me one or two. I'll like to knw

you probably don’t know the history of Russia in the 1930s and 1950s..imagine if Russia wasn’t crippled by the Americans the world would have gone back to the medieval period, do you know who Stalin was? Do you know what was called the great purge? When almost a million people where assasinated? Russia brought terror to the east Europeans during the ussr rule, why do you think America is allowed to have military base almost everywhere in the world...I did Europeans history in UNI there’s no friend no foe in international politics only interests and America is the best friend you can ever have in terms of international alliances Russia can’t be trusted China is not even close they just rose few years ago it used to be the British the Japanese the Germans the French , America came to the world scene after they bombed Hiroshima...so for me I will pick America anytime just don’t be in there other book , do you know Russia was testing the nuclear weapons in Kazakhstan ?tell me one ally that America has abandoned besides the Kurds ? America has proven to be the best ally anyone can have they ended world war 1 and World War II, do you know there was a time America was protecting China and philipines from the Japanese?

oz4real83:
Russia has over the years always proven to be a reliable ally any country can have. They don't abandon their friends even when the rest of the world do so. Syria, North korea are typical examples. Unfortunately, Nigeria has always isolated herself from Russia due to her relationship with Britain. It is possible to benefit from every country in the world, even without being a friend to them. I am glad the Buhari govt visited and also trying to improve our relations with Russia. May God bless Nigeria.

russia is not a reliable ally, they are protecting there interests no country is a reliable ally... Russia is economically poor they are doing everything to survive same with China they are still developing....it’s like inviting a big man to your wedding there’s a likelihood he won’t attend but when you invite an average guy he would come because of the food you have in the occasion....America is economically strong, Russia isn’t ....even China is poor do you that?

Russia that is still a developing country

capitalzero:


who told you?

I might be wrong.

[s]

solmusdesigns:
We should have being dealing with russia and china for a long time

[/s]

It's the 21st century.. While virtually all western countries are now sef sufficient... African nations are still running around lookin for who to bail them... And yet we wonder why other races disrespects us

Thisis2raw:
to me I think Russia is honest in dealings than America and China

Bros all of them Na same.

Blackvic1:
russia is not a reliable ally, they are protecting there interests no country is a reliable ally... Russia is economically poor they are doing everything to survive same with China they are still developing....it’s like inviting a big man to your wedding there’s a likelihood he won’t attend but when you invite an average guy he would come because of the food you have in the occasion....America is economically strong, Russia isn’t ....even China is poor do you that?

China is poor ké? At the moment, China has more cash than any country on the planet earth. Are you aware that the top 5 world's biggest banks are owned by Chinese government?