Skip to content
AidData logo

Overview

Chinese Government cancels RMB 180 million of the Government of Cote d'Ivoire’s outstanding obligations

Commitments (Constant USD, 2023)$39,320,683
Commitment Year•2007Country of Activity•Cote d'IvoireDirect Recipient Country of Incorporation•Cote d'IvoireSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2007
Start (actual)
May 14, 2007
End (actual)
May 14, 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 Côte d'Ivoire (Ivory Coast)

Loan desecription

Chinese Government cancels RMB 180 million of the Government of Cote d'Ivoire’s outstanding obligations

Narrative

Full Description

Project narrative

On 14 May 2007, the Chinese Government cancelled RMB 180 million of the Government of Cote d'Ivoire’s outstanding debt obligations. The obligations resulted from unspecified interest-free loans. These debts reportedly represented 40% of the Government of Cote d'Ivoire’s total outstanding debt obligations to the Chinese Government. During the same meeting, officials also signed a EUR 10 million grant agreement (#13025) and EUR 1 million interest-free loan agreement (#709).

Staff comments

This project has not been marked as umbrella since the loans that were canceled were almost certainly contracted in the 1990s and there is a minimal risk of double-counting.