Overview

Chinese Government cancels $17 million of the Government of Uganda's outstanding debt obligations

Commitments (Constant USD, 2023)$28,246,597

Commitment Year•2007Country of Activity•UgandaDirect Recipient Country of Incorporation•UgandaSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2007

Start (actual): Sep 21, 2007

End (actual): Sep 21, 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

Uganda Ministry of Finance

Implementing agencies

Government Agencies

Government of Uganda

Loan desecription

Chinese Government cancels $17 million of the Government of Uganda's outstanding debt obligations

Narrative

Full Description

Project narrative

On September 21, 2007, China's Assistant Minister for Commerce Fu Ziying, and Uganda's Finance Minister Dr. Ezra Suruma signed a debt forgiveness agreement. China's Ministry of Commerce (MOFCOM agreed to cancel $17 million of the Government of Uganda's outstanding debt obligations.

Staff comments

This project is not marked as umbrella because we do not capture any loan projects in Uganda prior to 2007, so there is no risk of double-counting.