Project ID: 373

Chinese Government cancels $9.38 million of the Government of CAR’s outstanding debt obligations

Commitment amount

$ 23586364.25833684

Adjusted commitment amount

$ 23586364.26

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Central African Republic

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

2001-11-26

Actual start

2001-11-26

Actual complete

2001-11-26

Description

On November 26, 2001, the Chinese Government and the Government of Central African Republic (CAR) signed an agreement, which cancelled $9.38 million of the Government of CAR’s outstanding debt obligations. These obligations resulted from two previously contracted loans that had reached their maturity dates by the time of the 2001 debt forgiveness agreement: an RMB 30 million loan and a loan worth 20 million French Francs (contracted prior to France’s transition from the Franc to the Euro).

Additional details

These canceled debts are not included in the dataset of Chinese debt cancellations and restructurings released by SAIS-CARI in 2020. This project is not marked as umbrella since the loans contracted were before 2000, so there is no risk of double counting.

Number of official sources

4

Number of total sources

6

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of the Central African Republic [Government Agency]