ADDIS ABABA: Brazil said yesterday that it plans to cancel $900m (¤700m) worth of debt in 12 African countries, as part of a broader strategy to boost ties with the continent.
“The idea of having Africa as a special relationship for Brazil is strategic for Brazil’s foreign policy,” presidential spokesman Thomas Traumann told reporters on the sidelines of African Union celebrations to mark 50 years of the continental bloc.
Brazilian President Dilma Rousseff was in Addis Ababa for the celebrations, her third trip to Africa in three months.
Among the 12 countries whose debts were pardoned, Congo-Brazzaville was the highest with a $352m debt cancelled, with Tanzania’s $237m debt the second largest. Traumann said the move was part of Brazil’s efforts to boost economic ties with Africa, home to some of the world’s fastest growing economies.
He added that Brazil recently established an agency to support investments in industry and development in Africa and Latin America. “The idea is to concentrate Brazilian help,” including in agriculture, social programs, as well as direct financial support of Brazilian companies, he said.
Rousseff, visiting the Ethiopian capital for the AU celebrations, has met with several African leaders including Ethiopian Prime Minister Hailemariam Desalegn, with whom she signed a series of cooperation agreements on agriculture, education, air transport and science.
Afp
