Overview

Chinese Government cancels $45 million of the Government of Guinea’s outstanding debt obligations

Commitments (Constant USD, 2023)$90,194,873

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

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2005

Start (actual): Sep 1, 2005

End (actual): Sep 1, 2006

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

Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

Government of Guinea

Loan desecription

Chinese Government cancels $45 million of the Government of Guinea’s outstanding debt obligations

Narrative

Full Description

Project narrative

In September 2005, the Chinese Government reportedly canceled $45 million of the Government of Guinea’s outstanding debt obligations.

Staff comments

1. This dataset does not capture any loans that are not umbrella projects prior to 2006, so this project is not marked as umbrella as there is no risk of double counting. 2. One academic source identifies the value of the debt forgiveness that was provided as $52 million.