I suppose there is no direct equivalent, that's why m_free is introduced in 3.0, see pep 3121
for details:
Currently, extension modules are initialized usually once and then "live" forever. The only exception is when Py_Finalize() is called: then the initialization routine is invoked a second time. This is bad from a resource management point of view: memory and other resources might get allocated each time initialization is called, but there is no way to reclaim them. As a result, there is currently no way to completely release all resources Python has allocated.