Project ID: 36669

Chinese Government cancels $20 million of the Government of Guyana’s outstanding obligations (Linked to Project ID#56154)

Commitment amount

$ 48721274.80757075

Adjusted commitment amount

$ 48721274.81

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Guyana

Sector

Action relating to debt (Code: 600)

Flow type

Debt forgiveness

Infrastructure

No

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

2003-01-01

Description

In 2003, the Chinese Government cancelled $20 million of the Government of Guyana’s outstanding debt obligations related to loans that were contracted over a 30-year period. Then, in July 2007, after the Chinese Government provided $15 million of additional debt forgiveness (as captured via Project ID#56154), total debt relief from the Chinese Government to the Government of Guyana summed to approximately $34.9 million.

Additional details

This debt forgiveness project is not marked as an umbrella project since the original loans were most likely contracted before 2000, so there is little risk of double counting.

Number of official sources

3

Number of total sources

9

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Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Guyana [Government Agency]