The relief was announced by Foreign Minister Wang Yi on August 18 in an address to Chinese and African diplomats. However, the minister didn’t divulge details on the value of the loans waivered nor did it state which countries would benefit from the waiver. At the time Angola led with a debt of $25 billion (Sh2.9 trillion), Ethiopia followed with $13.5 (1.6 trillion), and Kenya with $7.9 billion (Sh946 billion). China eliminated debt owing to interest-free loans totalling $113.8 million (Sh13.6 billion) that matured in 2020 for 15 African countries including Botswana, Burundi, Rwanda, Cameroon, the Democratic Republic of the Congo, and Mozambique. China further called on the West to also consider cancelling debt for African countries.

Source: Daily Nation August 23, 2022 17:56 UTC