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COVID-19: Germany Grants Nigeria N8.9bn Debt Relief

Germany’s Chancellor Angela Merkel offers a press convention throughout a European Union Summit on the Europa constructing in Brussels on December 13, 2019.  ARIS OIKONOMOU / AFP

 

Germany has granted Nigeria a debt aid value €22.four million (N8.9bn) as a part of its contribution to the nation’s COVID-19 combat.

In a press release on Tuesday, Germany, which has Europe’s largest financial system, stated the debt aid comes along with its help of the pandemic response globally.

“In 2020, the German treasury relieves Nigeria of debt repayments amounting to €22.4 million (N8.9bn),” the assertion stated.

“This comes along with Germany’s help to the COVID-19 response on a worldwide stage and the help offered by the European Union to accomplice nations in Africa value €three.25 billion (N1.three trillion)

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

Germany additionally famous it has pledged a complete of €12 million (N4.8bn) in extra help to the West Africa Well being Organisation, the regional well being establishment of the ECOWAS.

Germany’s pledge, the nation stated, is earmarked for the acquisition of important medical provides, personnel coaching and facilitating cooperation throughout nationwide and regional boundaries.

“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 Overseas Minister, Heiko Maas, stated.

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