Project ID: 33903

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

Commitment amount

$ 60353520.16

Constant 2017 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Mozambique

Sector

Action relating to debt (Code: 600)

Flow type

Debt forgiveness

Concessional

Yes

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2007

Description

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.

Additional details

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.

Number of official sources

4

Number of unofficial sources

5

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Mozambique [Government Agency]

Gurarantee provided

No

Insurance provided

No