Germany Grants Nigeria of N8.9bn Debt Relief

April 29, 2020
Germany Grants Nigeria of N8.9bn Debt Relief

By Adedapo Adesanya

One of Europe’s largest economies, Germany, has approved a debt relief of N8.9 billion (€22.4 Million) to the Federal Republic of Nigeria due to the COVID-19 pandemic.

This was disclosed in a statement signed by the German Foreign Minister, Mr Heiko Maas, on Tuesday, adding that the country is adding a provisional N2.2 billion (€5.5 million) to help continue with necessary aid needed across the country.

“In 2020, the German treasury relieves Nigeria of debt repayments amounting to €22.4 million (N8.9 billion),” the statement said.

“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 (N120 billion) to the global humanitarian response plan launched by the United Nations to fight COVID-19,” it added.

Germany also noted it has pledged a total of €12 million (N4.8 billion) in additional support to the West Africa Health Organisation, the regional health institution of the ECOWAS.

The European country noted that the donation would be used 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.

“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,”it said.

The statement further said the procurement of protective materials and hygiene articles such as hand disinfectant, protective clothing, surface disinfectant, KN95 face masks, contactless clinical thermometers and gloves valued at €20,000 (N8 million) for the Nigeria Police Force had started through Germany ́s implementing agency, GIZ and would be handed over shortly in Abuja.

Germany added that it had supported the Nigeria Centre for Disease Control (NCDC) with the introduction of a Surveillance Outbreak Response Management and Analysis System which, as of August 2019, was implemented in 200 local government areas.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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