First of all, please allow me to pay respects to:

His Majesty King Letsie III,

The Right Honourable Prime Minister,

Honorable President of the Senate,

Honorable Speaker of the National Assembly,

His Lordship the Chief Justice,

Honorable Deputy Prime Minister,

Honourable Cabinet Ministers, especially

Honorable Minister of Finance and Development Planning Matlanyane,

All Government Officials here Present,

Distinguished Members of the Media,

Ladies and gentlemen,

It gives me great pleasure to join you all to sign the Protocol on Waiving Partial Loans today. On this special occasion, let me recall that at the Forum on China-Africa Cooperation (FOCAC) Beijing Summit in September 2024, President Xi Jinping announced that, for least developed African countries with diplomatic ties with China, China would waive their intergovernmental interest-free loans due by the end of 2024. For the government of Lesotho, there are two interest-free loans, amounting to RMB 89.976 million (M 224.94 million Maloti), for the Maintenance and Renovation Project of the Lesotho National Convention Centre in 2014 and the Fourth Term of the JUNCAO (Mushrooms) Cultivation and Technical Cooperation Project in 2017. Today, as the Hon. Minister and I sign this Protocol in the presence of all of you, we are fulfilling China’s promises made at the FOCAC Beijing Summit.

Ladies and gentlemen,

The signing of this Protocol today is another vivid testament to the consistent principles that underpin China’s cooperation with Africa. China has always respected the sovereignty and independent choice of African countries and never interferes in their internal affairs. Our cooperation is guided by sincerity and good faith, with the sole purpose of supporting Africa’s development. At the same time, China is committed to ensuring that our cooperation responds to the real needs and priorities of African partners, with particular emphasis on strengthening local capacity for sustainable growth. Furthermore, China does not pursue geopolitical interests in Africa, nor does it seek to draw lines or create divisions. Instead, we firmly oppose bloc confrontation and remain dedicated to fostering unity, cooperation, and shared development across the continent.

Guided by these principles, the Forum on China-Africa Cooperation has, over the past 26 years since its establishment, delivered tangible and meaningful outcomes for Africa’s development and people’s well-being. Through this platform, China and Africa have worked hand in hand to address key development bottlenecks, achieving substantial progress in infrastructure and connectivity. To date, the two sides have jointly built or upgraded nearly 100,000 kilometers of roads, over 10,000 kilometers of railways, close to 1,000 bridges, and nearly 100 ports across the continent. In addition, Chinese enterprises have created more than 1.1 million jobs in Africa in just the past three years, contributing directly to local livelihoods and economic vitality. These efforts have not only supported Africa in enhancing its development capacity but have also helped tackle the root causes of debt challenges. As many African leaders, including President Ramaphosa of South Africa, have noted, China-Africa cooperation is not about creating burdens, but about fostering a partnership of mutual benefit and shared development.

Ladies and gentlemen,

Debt remains one of the key obstacles to Africa’s development today. It is important to note that China has never been Africa’s main creditor. According to World Bank data, about 80 percent of Africa’s sovereign external debt is held by multilateral and private creditors, with bilateral debt representing only a small share. For Lesotho, World Bank loans account for M8.6 billion Maloti, or 38 percent of total external debt, while Chinese loans make up only 14 percent.

Even so, China has actively taken steps to ease Africa’s debt repayment through both bilateral and multilateral channels. We are the top contributor to the G20 Debt Service Suspension Initiative and have proposed concrete debt relief measures in the FOCAC Beijing Action Plan (2025–2027). At the same time, China continues to support Africa’s economic development through assistance, cooperation, and job creation, thereby alleviating debt pressures at their root.

Ladies and gentlemen,

At a time when some partners are withdrawing assistance, China is also withdrawing, but withdrawing its rights on loans. This reflects not only a difference in approach, but also a difference in philosophy — one that embodies the spirit of sincerity, real results, amity, and good faith. It is a concrete demonstration of our commitment to the solidarity and prosperity of the Global South, and to building an all-weather China-Africa community with a shared future for the new era.

Looking ahead, China will continue to translate its principles into concrete actions and fulfill its commitments. Beyond debt relief, we will work closely with Lesotho in areas such as infrastructure, healthcare, renewable energy, and capacity building, to promote sustainable development, deliver greater benefits to our peoples, and write a splendid new chapter for the China-Lesotho strategic partnership.