Project ID: 34512

Chinese Government cancels £9.6 millions of Afghanistan’s outstanding debt obligations (Linked to Project ID#34505)

Commitment amount

$ 34772715.33

Constant 2017 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Afghanistan

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

2004

Completion

2004

2004-03-01

Actual

Description

In March 2004, the Chinese Government agreed to cancel 9.6 million British pounds (or approximately $18.8 million) of the Government of Afghanistan's outstanding debt obligations. These debt obligations were originally contracted by the Afghan government in 1965. This act of debt forgiveness likely covered the bulk of the Government of Afghanistan’s outstanding debt obligations to China from 2002 to 2010, which were worth $19.5 million.

Additional details

This project may be linked to Project ID#34505, which captures a 2002 commitment by the Chinese Government to write off all of Afghanistan's outstanding debt obligations.This project is not marked as umbrella as we do not capture any loans previous to this debt forgiveness project in the dataset (there were no loans to Afghanistan between 2000 and the date of this debt forgiveness) so there is no chance of double counting.

Number of official sources

7

Number of unofficial sources

7

Download the dataset

Details

Cofinanced

No

Receiving agencies [Type]

Government of Afghanistan [Government Agency]

Implementing agencies [Type]

Government of Afghanistan [Government Agency]