A statement released by Rwanda denotes that the $7.1 million debt relief is a part of China’s pledge to relieve its debt in impoverished African nations. The statement reveals that the move is part of China’s decision to cancel the outstanding interest-free loan in accordance with the agreement on economic and technical cooperation between the two countries.
China has offered to relieve Rwanda of a $7.1 million debt or 50 million RMB Yuan on loan to build the 6.36-kilometer Masaka-Kabuga road under the Kigali urban road upgrading project.
During the debt relief signing, China was represented by its Rwandan ambassador Wang Xuekun.
