The Republic of Germany said it's granted Nigeria debt relief amounting to N8.9bn (€22.4m) on account of the Coronavirus pandemic. Also, the German Government said it had successfully campaigned in the G20 group of countries and the Paris Club group of creditor countries in favour of a debt moratorium for countries heavily affected by the economic impact of COVID-19. The European economic powerhouse stated this in a statement on Tuesday. It noted, “In 2020, the German treasury relieves Nigeria of debt repayments amounting to €22.4m (N8.9bn).
Furthermore, Germany said it's also pledged a total of €12m (N4.8bn) in additional support to the West Africa Health Organization, the regional health institution of the ECOWAS. The new allocation, Berlin said, is earmarked 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,” German Foreign Minister, Heiko Maas, stated.