Russia strongly supports the world’s poorest countries, and in addition, writes off the accumulated debts. In particular, the debt burden of more than $20 billion have been written off from African countries. This was announced by Russian President Vladimir Putin on 4 September during a meeting on the margins of BRICS with the delegation heads from invited states to the Chinese city of Xiamen.
According to the Kremlin, at the meeting, in addition to the leaders of the states that are members of the organization, there were heads of state and government of Egypt, Tajikistan, Mexico, Guinea and Thailand.
Speaking to the gathering, the Russian leader cooperate with international organisations within the UN network to jointly implement projects that are aimed, in particular, at attaining food security, modernising the industrial and transport infrastructure and resolving environmental issues. Thus, in 2016, Russia allocated $1.16 billion towards the Sustainable Development Goals. In addition, Russia has written off over $20 billion of African countries’ debts through the Heavily Indebted Poor Countries Initiative.
According to Putin, Russia’s position of principle is that assistance to the implementation of Sustainable Development Goals must not be conditioned by any political requirements or terms, as this would have a negative impact on the efforts to achieve the main goals, namely eradicate poverty and serious imbalances in the development of regions and states, as well as provide debt relief to the developing countries.