China cancels over 16 mln USD in Togo debt

25/05/2012
China cancels over 16 mln USD in Togo debt

China has cancelled a Togolese debt from two loans worth 8.2 billion FCFA (16.4 million U. S. dollars), according to an agreement signed on Thursday in the Togolese capital Lome.

The document was signed by Chinese Ambassador to Togo Wang Zuofeng and Togolese Finance Minister Adji Otéth Ayassor (photo).

"The accord stretches the list of Chinese accomplishments in Togo, especially in the economic infrastructures and social domains," Minister Ayassor said.

He said, "The cancellation of this debt is encouraging to the Togolese government since it will now continue with the ongoing reforms to improve Togo's economic situation and reinforce its capacity to address the priority areas."

The Chinese ambassador said the cancellation of this debt was a demonstration of his country's desire to support Togo's efforts to achieve sustainable development. 

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