Overview

Chinese Government cancels RMB 210 million of the Government of Chad’s outstanding obligations in 2007

Commitments (Constant USD, 2023)$45,874,130

Commitment Year•2007Country of Activity•ChadDirect Recipient Country of Incorporation•ChadSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 4, 2007

Start (actual): Jan 4, 2007

End (actual): Jan 4, 2007

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 Chad

Loan desecription

Chinese Government cancels RMB 210 million of the Government of Chad’s outstanding obligations in 2007

Narrative

Full Description

Project narrative

On January 4, 2007, the Chinese Government and the Government of Chad signed a debt exemption protocol, which cancelled RMB 210 million of the Government of Chad’s outstanding debt obligations. These debts resulted from three interest-free loans and two military aid loans that the Government of Chad previously contracted. The three interest-free loans included an RMB 100 million loan that was contracted on September 20, 1973, an RMB 60 million loan that was contracted on June 28, 1990, and an RMB 50 million loan that was contracted on November 27, 1992.

Staff comments

1. This loan forgiveness project is not marked as umbrella since the loans contracted are before 2000 so there is no risk of double counting.