Overview

MOFCOM cancels $3 million debt owed by Somalia (Linked to Record ID#2285)

Commitments (Constant USD, 2023)$6,012,992

Commitment Year•2005Country of Activity•SomaliaDirect Recipient Country of Incorporation•SomaliaSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 25, 2005

Start (actual): Dec 25, 2005

End (actual): Dec 26, 2005

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 Somalia

Loan desecription

MOFCOM cancels $3 million debt owed by Somalia (Linked to Record ID#2285)

Narrative

Full Description

Project narrative

In December 2005, Chinese Ambassador to Kenya, Guo Chongli, signed an agreement for economic and technical cooperation (ECTA) with the Somali President, Abdullahi Yusuf Ahmad in Jowhar (see Record ID#2285). During the ECTA signing ceremony, the Chinese Government also agreed to waive the $3 million of outstanding debt owed by the Government of Somalia.

Staff comments

1. This record is not marked as an umbrella record because the original loan commitment is not captured in AidData's GCDF dataset, so there is no risk of double counting.