Project ID: 278

Chinese Government reschedules a 1991 loan to Cameroon by extending maturity period by 5 years

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Cameroon

Sector

Action relating to debt (Code: 600)

Flow type

Debt rescheduling

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2002-08-31

Actual start

2002-08-31

Actual complete

2002-08-31

Description

On August 31, 2002, the Chinese Government and the Government of Cameroon signed five cooperation agreements, one of which was a debt rescheduling agreement. Under this agreement, a loan worth nearly FCFA 4,000 million francs (~$6 million USD) that was contracted in 1991 and due for repayment by September 2001 (an original maturity period of 10 years) was rescheduled. Its maturity was extended by 5 additional years.

Additional details

No transaction amount is recorded since this project represents a loan rescheduling, not an original flow of resources to recipient country.

Number of official sources

0

Number of total sources

4

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Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Cameroon [Government Agency]

Loan Details

Maturity

15 years