The Russian Federationthrough President Putin’s special representative for the Middle East and African countries, announced that it had canceled cumulative debts amounting to 20 billion dollars African countries. This gesture is part of a diplomatic strategy aimed at strengthening ties between Moscow and Africa, while supporting the socio-economic development of the continent.
During the first Russia-Africa ministerial conference, held in Sochi on November 9 and 10, several Russian officials stressed the importance of this partnership, while presenting the current refinancing mechanisms. Mikhail Bogdanov, special representative of the Russian President for the Middle East and African countries, explained that some of these canceled funds are not simply erased, but redirected to concrete projects. This reallocated funding is used to implement socio-economic projects in the countries concerned, strengthening local capacities and stimulating development.
The Sochi conference follows decisions at the second Russia-Africa summit, held in St. Petersburg the previous year, where Russia affirmed its desire to strengthen bilateral relations with African nations. This summit laid the foundations for the current refinancing program, an initiative intended to redirect certain canceled debts towards targeted development projects, with particular emphasis on infrastructure, health and education.
The plenary session, chaired by the Russian Foreign Minister, was a highlight of the Sochi conference, with the reading of a message from President Vladimir Putin. This session brought together 54 heads of delegation, who came to represent their nations or regional organizations, testifying to the growing interest of African countries for closer collaboration with Russia.
The conference also attracted more than 1,500 participants, including more than 40 African ministers. This business program allowed representatives from the two continents to discuss development and cooperation prospects, particularly in the fields of energy, agriculture and new technologies.
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