FILE PHOTO: Chinese Finance Minister Liu Kun attends a news conference on China’s economic development ahead of the 70th anniversary of its founding, in Beijing, China September 24, 2019. REUTERS/Florence Lo

November 20, 2020

BEIJING (Reuters) – China has extended debt relief to developing countries worth a combined $2.1 billion under the G20 framework, the highest among G20 members in terms of deferral amount, the country’s Finance Minister Liu Kun said on Friday.

The China International Development Cooperation Agency, the country’s aid agency, and the Export-Import Bank of China, the official bilateral creditors, have suspended debt service payments from 23 countries, worth a total of $1.353 billion, Liu said in a statement on the ministry’s website.

The China Development Bank, as a commercial creditor, has signed agreements with developing countries involving $748 million by the end of September, said Liu.

(Reporting by Stella Qiu and Ryan Woo; Editing by Christian Schmollinger)

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