Russia will write off Madagascar debts $ 89 million

Russia decided to write off Madagascar debt in the amount of about $ 88.9 million. The corresponding order signed by the Prime Minister of the Russian Federation Dmitry Medvedev was published on the official Internet portal of legal information.

In accordance with the document, the Ministry of Finance, together with the Ministry of Foreign Affairs, the Ministry of Economic Development and VEB, must negotiate with the Madagascar authorities and then sign an agreement on the debt write -off. The released funds will be aimed at financing Madagascar projects in the field of development. We are talking about projects in combating energy poverty, strengthening national health and social protection systems, as well as improving the availability and quality of education.

Among the countries of the "big eight" Russia occupies the first place in terms of the amount of written off debts. Since 2000-2014, the country forgave its international partners about $ 140 billion. For example, in 2013, Moscow agreed to write off 90% of $ 32 billion Cuba’s debt to the USSR.