Project ID: 1529

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

Commitment amount

$ 5165253.312

Constant 2017 USD

Summary

Funding agency [Type]

Unspecified Chinese Government Institution [Government Agency]

Recipient

Nigeria

Sector

Action relating to debt (Code: 600)

Flow type

Debt forgiveness

Concessional

Yes

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

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2003

Description

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.

Additional details

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.

Number of official sources

0

Number of unofficial sources

1

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Nigeria [Government Agency]

Gurarantee provided

No

Insurance provided

No