Prime Minister Abiy Ahmed extended his appreciation today to President Xi Jinping, President Cyril Ramaphosa, and President Macky Sall for proposing the Extraordinary China-Africa Summit on Solidarity against COVID-19.
Prime Minister Abiy Ahmed took part in the virtual Extraordinary China- Africa Summit on Solidarity against COVID-19, Chaired by President Xi Jinping. The Summit which is jointly proposed by China, South Africa as AU Chair and Senegal, as co-Chair of FOCAC convened leaders of African countries, the United Nations Secretary General and the Director-General of the World Health Organization.
In his remarks, Prime Minister Abiy noted that solidarity has been a key value between China and African countries during these unprecedented times. Recalling the eight major initiatives announced by President Xi Jinping during the Forum on China-Africa Cooperation, he called for the initiative to give priority and focus to health care.
The premier wrote on his Facebook that “building on our existing partnership is key as we all learn from one another to mitigate and overcome the threats to our health and economic systems that the global pandemic poses.”
China has invested itself heavily in the future of Africa. Numerous Chinese companies are working to uplift infrastructure that will improve trade activities on the continent. Likewise, Chinese investment projects are increasing employment opportunities and allowing people to reach out to international markets. It is essential that business activities resume as soon as possible and, for this reason, defeating COVID-19 is paramount.
Another noteworthy aspect of China’s support is its suspension of debt repayments for 77 low-income countries and regions, many of whom are from Africa. This is particularly important because, in addition to being a health crisis, COVID-19 is taking an immense economic toll on the global economy. The greatest sufferers are, again, developing nations.
The summit was jointly proposed by China; South Africa, the rotating chair of the African Union (AU); and Senegal, co-chair of the Forum on China-Africa Cooperation.
It is estimated that African countries owe a combined $44 billion to service debt this year. Global lenders including the International Monetary Fund, World Bank and private lenders from G-20 countries, including China, have agreed to pause debt service payments from 77 of the world’s poorest countries.
China has said it is open to further debt relief but prefers to negotiate terms on a one-on-one basis with individual countries.
African countries do not appear eager to be confrontational with China over debt. Many African leaders believe taking on debt is essential to building the national infrastructure necessary to jump-start economies and lift citizens out of poverty.
African nations require a total of $68 billion per year to meet domestic infrastructure needs. They cannot finance those needs internally and must look to international lenders including many in China.
The Ethiopian Herald Jun 20,2020
BY HAILE DEMEKE
