Moscow has written off greater than $ 20 billion in debt collected by African international locations in the course of the Soviet period, Russian President Vladimir Putin introduced on Wednesday.
“It was not solely an act of generosity, but in addition a manifestation of pragmatism, as a result of lots of the African states weren’t capable of pay curiosity on these loans,” Putin instructed TASS on the eve of the summit.
Whereas addressing the Russia-Africa discussion board in Sochi, he referred to as for commerce between Russia and African international locations to be doubled within the subsequent 4 to 5 years.
Putin additionally stated that Russia intends to extend its presence in Africa at state degree.
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The primary-ever Russia-Africa Summit introduced greater than 50 African leaders to Sochi.
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