Mozambique: China Pardons Part of Mozambique's Debt

The Chinese government on Friday pardoned 2.6 billion meticais (about 36 million US dollars, at current exchange rates) of Mozambique's debt to China.

Mozambique owes about 150 billion meticais to China, and so the amount pardoned is about 1.7 per cent of the total.

A protocol on the debt forgiveness was signed in Maputo by Foreign Minister Veronica Macamo and Chinese ambassador Wang Hejun.

Speaking immediately after the signing ceremony, Macamo stressed that Mozambique was among the first countries to receive the VeroCell vaccine against the Covid-19 respiratory disease. In February, the Chinese government donated 200,000 doses of this vaccine, manufactured by the company Sinopharm. The vaccine is being administered, in two doses, to Mozambican health professionals, who are at the top of the list of priority groups for vaccination.

Macamo thanked the Chinese government for the support it has given in the fight against Covid-19.

Macamo and Wang also signed an agreement on economic and technical cooperation. Under this agreement China will grant Mozambique 1.6 billion meticais to finance a variety of economic and social projects.

Macamo was confident that the Chinese assistance will act as a catalyst on Mozambique's efforts to promote rapid, sustainable and inclusive socio-economic development.

This article originally appeared on Mozambique News Agency

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