Overview

Chinese Government forgives $25 million of the Government of Ghana’s outstanding debt obligations

Commitments (Constant USD, 2023)$41,539,113

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

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Apr 20, 2007

Start (actual): Apr 18, 2007

End (actual): Apr 20, 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 Ghana

Loan desecription

Chinese Government forgives $25 million of the Government of Ghana’s outstanding debt obligations

Narrative

Full Description

Project narrative

Between April 18, 2007 and April 20, 2007, the Chinese Government and the Government of Ghana signed six bilateral agreements, including one that cancelled $25 million of the Government of Ghana’s outstanding debt obligations. These obligations primarily resulted from one or more interest-free loans that the Government of Ghana contracted in the 1990s for the construction of the National Theatre of Ghana (see #1498).

Staff comments

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.