Project ID: 1876

Chinese Government cancels RMB 113 million of Rwanda's outstanding debt obligations

Commitment amount

$ 34383261.577921666

Adjusted commitment amount

$ 34383261.58

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Rwanda

Sector

Action relating to debt (Code: 600)

Flow type

Debt forgiveness

Infrastructure

No

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

2001-11-12

Actual start

2001-11-12

Actual complete

2001-11-12

Description

On November 12, 2001, Chinese President Jiang Zemin and Rwandan President Paul Kagame signed a debt reduction deal cancelling expired Rwandan loans totaling 113 million yuan. This is based on a plan on debt exemption and reduction set forth during the Sino-African forum for cooperation.

Additional details

In the same agreement, China cancelled 2.7 million US Dollars worth of expired Rwandan loans. See Project ID#1867. This project is not marked as umbrella because we do not capture any loan projects in Rwanda prior to 2009, so there is no risk of double-counting.

Number of official sources

4

Number of total sources

6

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Rwanda [Government Agency]