Project ID: 996

Chinese Government cancels $35 million of the Government of Mozambique’s outstanding debt obligations

Commitment amount

$ 88008821.85946582

Adjusted commitment amount

$ 88008821.86

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Mozambique

Sector

Action relating to debt (Code: 600)

Flow type

Debt forgiveness

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-like (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

2001-01-01

Actual start

2001-07-11

Actual complete

2001-07-11

Description

On July 10, 2001, the Chinese Government and the Government of Mozambique signed an agreement on the partial cancellation of the Government of Mozambique outstanding debt obligations to the Chinese Government. The Chinese Government reportedly cancelled the Government of Mozambique’s outstanding debt obligations by $35 million. These obligations resulted from five interest-free loans that the Government of Mozambique previously contracted with the Chinese Government. All of these loans were set to mature on or before December 31, 1999.

Additional details

This project is not marked as umbrella because the original debt is not captured in our dataset, so there is no risk of double counting.

Number of official sources

1

Number of total sources

6

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Mozambique [Government Agency]