Project ID: 40360

Chinese Government forgives outstanding debt obligations from an RMB 50 million loan contracted in 1994

Commitment amount

$ 11827591.718413759

Adjusted commitment amount

$ 11827591.72

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Kyrgyzstan

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

2007-08-15

Description

On August 15, 2007, the Chinese Government agreed to convert an RMB 50 million loan that it had signed with the Government of the Kyrgyz Republic on April 23, 1994 into a grant. This write-off of the Government of the Kyrgyz Republic's outstanding debt obligations effectively represented an act of debt forgiveness. This write-off came after the Ministry of Finance of the Kyrgyz Republic repeatedly asked the Chinese Government between 2005 and 2007 to convert the loan into a grant.

Additional details

This project is not marked as umbrella since the original loan is from 1994, which is outside the timeframe of this dataset, so there is no chance of double counting.

Number of official sources

1

Number of total sources

2

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Ministry of Finance of the Kyrgyz Republic [Government Agency]

Implementing agencies [Type]

Ministry of Finance of the Kyrgyz Republic [Government Agency]