Project ID: 1778

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

Commitment amount

$ 39035877.53

Constant 2017 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Ghana

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

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2007

Completion

2007

2007-04-20

Actual

Description

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).

Additional details

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.

Number of official sources

4

Number of unofficial sources

10

Download the dataset

Details

Cofinanced

No

Receiving agencies [Type]

Government of Ghana [Government Agency]