Democratic Republic of Congo says China has granted pandemic-linked debt relief

China has granted some debt relief to Democratic Republic of Congo to help it overcome economic fallout from the coronavirus pandemic, the Congolese foreign ministry said on Wednesday. As a result, Congo will not have to repay its interest-free loans from China that matured at the end of 2020. The ministry did not say how much this amounted to.

China has granted some debt relief to Democratic Republic of Congo to help it overcome economic fallout from the coronavirus pandemic, the Congolese foreign ministry said on Wednesday.

As a result, Congo will not have to repay its interest-free loans from China that matured at the end of 2020. The ministry did not say how much this amounted to. China has extended debt relief worth over $2 billion under a G20 framework aimed at giving developing countries hammered by the COVID-19 crisis some financial breathing space.

The latest deal was announced at a joint press conference in Kinshasa with Chinese Foreign Minister Wang Yi. "As Congo's most reliable friend, China wishes to continue to make its contribution to Congo's development," he was quoted as saying in the Congolese ministry's statement.

The major cobalt and copper producer has attracted billions of dollars in investment from Chinese miners in recent years.