Germany grants Nigeria €22.4m debt relief over COVID-19 pandemic

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Germany grants Nigeria €22.4m debt relief over COVID-19 pandemic

German Chancellor, Angela Merkel

Germany has granted Nigeria a debt relief worth €22.4 million (N8.9bn) due to the COVID-19 pandemic.

Germany also noted it has pledged a total of €12 million (N4.8bn) in additional support to the West Africa Health Organisation, the regional health institution of the ECOWAS.

In a statement on Tuesday, Germany, Europe’s largest economy, said the debt relief was in addition to its support of the pandemic response globally.

It said: “In 2023, the German treasury relieves Nigeria of debt repayments amounting to €22.4 million (N8.9bn).

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“This comes in addition to Germany’s support to the COVID-19 response on a global level and the support provided by the European Union to partner countries in Africa worth €3.25 billion (N1.3 trillion).

“On April 27, Germany pledged €300 million (N120bn) to the global humanitarian response plan launched by the United Nations to fight COVID-19.”

Germany said its pledge is for the purchase of vital medical supplies, personnel training and facilitating cooperation across national and regional boundaries.

German Foreign Minister, Heiko Maas, said: “Clearly, the current crisis goes beyond national and even continental borders and can only be fought effectively in a cooperative way.

“We need more international cooperation, not less.”

Newzandar News

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