Putin announced that Russia will allocate an extra $90 million to support development in African countries and reduce their debts.

"So far, we have cancelled a total of 23 billion dollars of debt, and in the latest requests from African countries, we will allocate over 90 million dollars for these developmental purposes,” he said.

The Russian president stated that Russia and Africa share strong and mutually beneficial friendly relations, which were established in the mid-20th century during the struggles of African nations for their freedom.

Addressing the lingering challenges, Putin expressed concern over aspects of neo-colonialism still present today, particularly in economic, informational, and humanitarian fields.

"For decades, we have continuously supported African countries in their difficult confrontation against neo-colonialism. Unfortunately, some aspects of colonialism have not been eradicated to this day, and major powers still practice them," he added.

The Russian president stressed the importance of defending state sovereignty and independence, expressing Russia’s solidarity with African countries in shaping a multipolar and egalitarian system.

Furthermore, Putin affirmed Russia's commitment to assist African countries in conflict resolution and cooperate with them on law enforcement and military training.

He also acknowledged the challenges hindering Africa's development, including terrorism, extremist ideologies, transnational crime, piracy, and unresolved ethnic conflicts.

Moreover, he welcomed the initiative from several African countries to help resolve the Ukrainian crisis.

"Mediation missions to resolve the Ukrainian crisis were previously monopolized by so-called advanced democracies, but now African countries too are ready to help solve problems," the Russian president said.  

"The initiative from several African countries regarding the Ukrainian crisis is significant, and we don't shy away from considering it," Putin added, stressing that "Russia deals with African initiatives with respect and carefully examines them."