Nigeria has got a major palliative from Germany as it says
it has granted the country debt relief amounting to N8.9 billion (€22.4 million) .
besides, Germany says it has successfully campaigned in the G20 group of countries and the Paris Club group of creditor countries in favour of a debt moratorium for countries heavily affected by the economic impact of COVID-19.
In a statement on Tuesday, Germany, which has been largely liberal to developing economies, said, “In 2020, the German treasury relieves Nigeria of debt repayments amounting to €22.4 million (N8.9bn). 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.
As part of the package, it also pledged a total of €12 million (N4.8bn) in additional support to the West Africa Health Organisation, the regional health institution of the ECOWAS.
“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”, German Foreign Minister, Heiko Maas, stated
The new allocation, Berlin said, is earmarked for the purchase of vital medical supplies and laboratory equipment, training measures, and more generally, cooperation in pandemic prevention at the national and regional levels.