On April 9, H.E. Amb. Yang Xiaokun and Hon. Minister of Finance and Development Planning Matlanyane signed the Protocol on Waiving Partial Loans of the Government of Lesotho. Senior officials of the Ministry of Finance and Development Planning and members of the media, totaling over 30 people, were present.

Ambassador Yang Xiaokun announced, to implement the outcomes of the FOCAC Beijing Summit, the government of China agrees to waive 2 interest-free loans of the government of Lesotho due by the end of 2024, which demonstrates the principles of sincerity, real results, amity and good faith for China’s relations with Africa. China has never been Africa’s main creditor. Even so, China has actively taken steps to ease Africa’s debt repayment. Looking ahead, China will work closely with Lesotho in various areas and deliver greater benefits to the people of both countries.

Minister Matlanyane expressed sincere gratitude to the government of China, emphasizing that this loan waiver provides important relief to Lesotho’s public debt portfolio and creates valuable and much needed fiscal space, allowing Lesotho to redirect limited resources toward priority expenditures. It is both timely and significant to Lesotho. May the friendship between the two countries continue to grow in substance and impact.