• News
  • Covid-19
  • People
  • Arts & Culture
  • Food & Drink
  • Life
Macao News
SUBSCRIBE
  • News
    • Business
    • Covid-19
    • Economy
    • Gaming
    • Politics
    • Law & Crime
    • Social Affairs
    • Sports
    • Greater Bay Area
    • Portuguese-speaking countries
  • People
  • Arts & Culture
    • Art
    • Culture
    • Entertainment
    • History
    • Museums
  • Dining
    • Latest
    • Recipes
    • Restaurants
    • Know your chef
  • City Life
    • Sustainability
    • Wellness
  • Deep Dives
  • Partner Features
  • Video
  • News
    • News Home
    • Business
    • Economy
    • Gaming
    • Politics
    • Law & Crime
    • Social Affairs
    • Sports
    • Greater Bay Area
    • Portuguese-speaking Countries
  • Covid-19
  • People
  • Arts & Culture
    • Arts & Culture Home
    • Art
    • Culture
    • Entertainment
    • History
    • Museums
  • Dining
    • Dining Home
    • Latest
    • Recipes
    • Restaurants
    • Know your chef
  • City Life
    • City Life Home
    • Sustainability
    • Wellness
  • Deep Dives
  • Partner Features
  • Video
Macao News
China waives Mozambique US$38 million debt
Macao News > Portuguese-speaking Countries > China waives Mozambique US$38 million debt

China waives Mozambique US$38 million debt Link copied

Funds will be used to fight Covid-19: Mozambique hails China's generosity.

Mozambique debt China
Photo by Rohan Reddy
24 March 202124 March 2021 BY STAFF REPORTER
BY STAFF REPORTER24 March 202124 March 2021

As part of an international effort to fight Covid-19 in Mozambique, China is to write off 244.6 million yuan (US$38 million) of debts taken out by the east African republic.

The amount forgiven is equivalent to about 2 per cent of Mozambique’s debt to China. The Chinese government has also undertaken to grant 150 million yuan (USD 23 million) for social and economic projects.

The agreement was signed in Maputo by Mozambique’s Minister of Foreign Affairs and Cooperation, Verónica Macamo, who said that China’s gesture “is not surprising” because it is “a friend who has known how to always be with Mozambique both in difficult and golden moments”.

“This sister country has always been consistent in its support for Mozambique,” said Macamo.

China’s ambassador, Wang Hejum, said that the Chinese side “waives obligations of the Mozambican side in terms of the amortisation of three loans, without interest”.

 

  • Print
Load More
Copyright © 2023 Ruca Limited

Explore

  • News
  • Arts & Culture
  • Economy
  • Dining Scene
  • Gaming
  • People
  • Politics
  • City Life
  • Deep Dives

About

  • About Us
  • Contact
  • Contributors
  • Careers
  • Ruca Studio
  • Terms & Conditions
  • Privacy Policy

Connect

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube
  • RSS
Copyright © 2023 Ruca Limited