Overview

Chinese Government cancels N325 million of the Government of Nigeria’s outstanding debt obligations

Commitments (Constant USD, 2023)$5,496,483

Commitment Year•2003Country of Activity•NigeriaDirect Recipient Country of Incorporation•NigeriaSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Sep 4, 2003

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

Government Agencies

China Ministry of Commerce

Receiving agencies

Government Agencies

Government of Nigeria

Loan desecription

Chinese Government cancels N325 million of the Government of Nigeria’s outstanding debt obligations

Narrative

Full Description

Project narrative

On September 4, 2003, Chinese Vice Foreign Minister Qiao Zonghuai signed a N325 million debt cancellation agreement from China to Nigeria. The agreement was signed by Qiao and Nigerian Minister of State for Foreign Affairs Mallam Saidu Samaila Smabawa.

Staff comments

This project is not marked as umbrella because we do not capture any loan projects in Nigeria prior to 2003, so there is no risk of double-counting.