Russia has written off 20 billion dollars of African debt.

Russia, in 2008 wrote off 20 billion dollars of debt of African countries. That was reported by RIA Novosti with reference to the Russian Ministry of Foreign Affairs.
In April 2008, Russia wrote off 4.6 billion dollars debt Libya in exchange for contracts for Russian companies. Immediately following the cancellation of the company Russian Railways signed a contract worth 2.2 billion euros for the construction of 500 kilometers of railway Sirte, Benghazi, and Gazprom agreed to establish a joint oil and gas companies with the National Oil Company of Libya.
  Now Russia is also holding talks with Benin, Guinea, Zambia, Madagascar, Mozambique, Tanzania and Ethiopia to write off their debts, which amount is 500 million dollars. Previously, it was reported that nine-tenths of African debt to Russia is to supply military equipment.