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

German Chancellor, Angela Merkel

Germany has granted Nigeria a debt relief worth €22.4 million (N8.9bn) as part of its contribution to the country’s COVID-19 fight.

In a statement on Tuesday, Germany, which has Europe’s largest economy, said the debt relief comes in addition to its support of the pandemic response globally.

“In 2020, the German treasury relieves Nigeria of debt repayments amounting to €22.4 million (N8.9bn),” 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 (N120bn) to the global humanitarian response plan launched by the United Nations to fight COVID-19.”

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

Germany’s pledge, the country said, is earmarked for the purchase of vital medical supplies, personnel training and facilitating cooperation across national 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 Foreign Minister, Heiko Maas, said.

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