Chinese Government cancels $60 million of the Government of Cambodia’s outstanding obligations
Constant 2017 USD
Funding agency [Type]
Unspecified Chinese Government Institution [Government Agency]
Action relating to debt (Code: 600)
At the ASEAN summit on November 4, 2002, Chinese Premier Zhu Rongji announced the the Chinese Government would cancel all of the Government of Cambodia’s outstanding debt obligations that had reached maturity. These debts were worth an estimated $60 million. The debts that were forgiven were originally contracted during the 1970s.
The monetary value of the debts (from the 1970s) that were cancelled is estimated to be somewhere between $60 million and $1 billion. To err on the side of caution, AidData relies on the lower bound estimate ($60 million) within this range.There is no risk of double counting, as the loans that had reached maturity by 2002 were contracted prior to 2000.
Number of official sources
Number of unofficial sources
Receiving agencies [Type]
Government of Cambodia [Government Agency]