Chinese Government cancels RMB 180 million of the Government of Cote d'Ivoire’s outstanding obligations
Commitment amount
$ 42579330.186289534
Adjusted commitment amount
$ 42579330.19
Constant 2021 USD
Summary
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Recipient
Cote d'Ivoire
Sector
Action relating to debt (Code: 600)
Flow type
Debt forgiveness
Infrastructure
No
Category
Project lifecycle
Description
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).
Additional details
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.
Number of official sources
2
Number of total sources
5
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Côte d'Ivoire (Ivory Coast) [Government Agency]