Project ID: 16311

Chinese Government pledges to cancel $1 billion of African debt at China-Africa Forum

Commitment amount

$ 2227601385.0

Constant 2017 USD

Not recommended for aggregates

This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.

Umbrella project

This project is classified as an "umbrella" project, and is connected to related projects.

Summary

Funding agency [Type]

Unspecified Chinese Government Institution [Government Agency]

Recipient

Africa, regional

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

2000

Description

At the first China-Africa Forum held in Beijing in 2000, China agreed to cancel 1 billion USD in African debts. The 1 billion USD is spread across African countries, and is recorded in bilateral flows for each recorded project. It also placed 190 products from 28 African countries on a tariff free roster.Debt Forgiveness projects that may be under this umbrella have been recorded for Guinea-Bissau, Rwanda, Kenya, Niger, Tanzania, Cameroon, Mali, Sudan, Ethiopia, Congo, Lesotho, Comoros, Togo, Equatorial Guinea, Eritrea, Madagascar, Mozambique, Burundi, Angola, Central African Republic, Uganda, Cabo Verde, Guinea, Ghana, Democratic Republic of Congo, Benin, Nigeria, and Mozambique.

Number of official sources

2

Number of unofficial sources

1

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Details

Cofinanced

No

Gurarantee provided

No

Insurance provided

No