Project ID: 2183

Chinese Government cancels RMB 149 million of the Government of Togo’s outstanding debt obligations

Commitment amount

$ 30587328.25

Constant 2017 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Togo

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

Description

In July 2007, the Chinese Government signed an agreement with the Government of Togo to cancel RMB 149 million ($20.35 million USD) of Togo’s outstanding debt obligations to China (see 'Photo exhibition on China-Africa cooperation achievements'). China cancelled the debt the same month. All of the loans that were forgiven matured on or before December 31, 2005 and represented 100% of the outstanding debt due before that date (see pg.24 of 'REPUBLIC OF TOGO : COMPLETION POINT DOCUMENT FOR THE ENHANCED HIPC INITIATIVE').

Additional details

This debt forgiveness project is not marked as an umbrella project since the original loan was contracted before 2000, so there is no risk of double counting.

Number of official sources

4

Number of unofficial sources

4

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Togo [Government Agency]