Making the announcement on Tuesday in Lilongwe ahead of the Forum for China Africa Cooperation (FOCAC) to be held in December, Deputy Head of Mission at the Chinese Embassy Lai Xing, hoped the move will ease the burden the countries face in paying debts.

“China will commit itself on debt relief. China will call off all the debt of outstanding intergovernmental interest free loans due by the end of 2015 for all the least developed countries.”

“The call off will lessen the burden of paying debts, loans interest free for relevant and landlocked developing countries” Said Lai.

According to the Chinese Embassy the forthcoming China -Africa Summit to be held from 3rd to 5th December in South Africa will look at new ways of enhancing cooperation, peace and development.

The meeting also marks FOCAC’s 15th anniversary since its establishment and the achievements made over the years.

The Deputy Head of Mission also called on the need to streamline policies to promote industrialization and advancement of technology to uplift people’s living standards.

“We need to tackle issues relating to economic development; how we could create an enabling environment for investors to come”.

“We need to streamline our policies to promote industrialization and advancement of technology which plays a great role in uplifting people’s living standards”.  Stressed Lai.

Xing also disclosed that People’s Republic of China will contribute $2 Million to support developing countries in the implementation of Sustainable Development Goals (SDG)’s and $12 Billion towards investment.