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Overview

Chinese Government cancels RMB 294 million of the Government of Mozambique’s outstanding debt obligations

Commitments (Constant USD, 2023)$64,223,783
Commitment Year•2007Country of Activity•MozambiqueDirect Recipient Country of Incorporation•MozambiqueSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2007
Start (actual)
Feb 8, 2007
End (actual)
Feb 8, 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

  • Government of Mozambique

Loan desecription

Chinese Government cancels RMB 294 million of the Government of Mozambique’s outstanding debt obligations

Narrative

Full Description

Project narrative

On February 8, 2007, under the framework of the Forum on China–Africa Cooperation (FOCAC), the Chinese Government agreed to cancel the Government of Mozambique’s outstanding debt obligations by RMB 294 million. These obligations resulted from loans that the Government of Mozambique previously contracted with the Chinese Government. These loans were set to mature on or before December 31, 2005.

Staff comments

This debt forgiveness project is not marked as an umbrella project since AidData captured loans provided from 2000-2005 but the maturity date of these loans are likely after 2005, which are not included in the loans forgiven in 2007.