China urges developed nations to ease debt burden on African countries

Published: September 11,2024

File photo of the Chinese Foreign Ministry. /CFP

Chinese Foreign Ministry Spokesperson Mao Ning on Tuesday called for international cooperation with Africa to be more fair, equal and practical.

“As Foreign Minister Wang Yi stressed, to be Africa’s cooperation partner, one must always do what is fair and just for Africa, treat Africa as an equal and deliver tangibly for Africa. We call on the international community, especially the developed countries and international financial institutions, to step up to their responsibilities and help African countries ease debt burdens and achieve sustainable development.”

Mao made the remarks at a daily press conference to respond to some journalists’ concerns and criticisms regarding the “debt trap” narrative.

The Forum on China-Africa Cooperation (FOCAC) has played a key role in promoting Africa’s development over the past 24 years, including helping build or upgrade nearly 100,000 kilometers of roads, over 10,000 kilometers of railways, nearly a thousand bridges and close to a hundred ports, Mao said.

Noting that Chinese companies have created over 1.1 million jobs in Africa in the past three years, Mao emphasized that these efforts are helping Africa overcome development bottlenecks and fundamentally address debt issues.

During the summit, several African leaders, including South African President Cyril Ramaphosa, stated that China’s investments in Africa represent mutually beneficial cooperation and will not push Africa into a “debt trap.”

In fact, China has never been a major creditor to Africa. According to data from the World Bank, multilateral and private creditors account for 80 percent of Africa’s sovereign external debt, while bilateral debt constitutes only a small portion, Mao pointed out.

“Even so, China has actively contributed to easing Africa’s pressure of debt repayment through bilateral and multilateral channels and is the top contributor to the G20 Debt Service Suspension Initiative.”

In the FOCAC Beijing Action Plan (2025-2027), China also put forward specific measures for debt relief, she added.

cgtn.com