NOUAKCHOTT, Sept 19 (AFP): China has waived 44 million euros (61 million dollars) owed by Mauritania, Africa's newest producer of crude oil, the domestic news agency AMI reported yesterday.
The amount encompasses six interest-free loans and Beijing took the step in keeping with the "spirit of the Africa-China summit in Beijing" it hosted last year to boost ties with the continent, AMI said.
The pact on the waiver was signed Monday in the Mauritanian capital Nouakchott by Foreign Minister Mohamed Salek Ould Mohamed Lemine and Chinese ambassador Zhang Xun.
China is keen to get its hands on raw materials from around the world to feed its fast-growing economy, and in recent years has been on a diplomatic offensive to secure what it needs. A major focus has been on Africa.
Top Chinese officials including President Hu Jintao have toured the continent, and last November Beijing invited scores of African leaders to a summit where it pledged to double aid and offer billion of dollars in loans.
On Monday, China signed a deal to loan the mineral-rich Democratic Republic of Congo five billion dollars to build up infrastructure and develop its mining industry.
China waives Mauritanian debt
FE Team | Published: September 20, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
Share if you like