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Overview

Chinese Government offers $50 million to North Korea to attend six-nation nuclear negotiations

Commitments (Constant USD, 2023)$105,186,815
Commitment Year•2004Country of Activity•Democratic People's Republic of KoreaDirect Recipient Country of Incorporation•Democratic People's Republic of KoreaSector•Unallocated/unspecifiedFlow Type•Grant

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2004

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

Government Agencies

  • Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

  • Government of North Korea

Loan desecription

Chinese Government offers $50 million to North Korea to attend six-nation nuclear negotiations

Narrative

Full Description

Project narrative

During the visit of Wu Bangguo to North Korea in October 2003, Wu presented the offer of $50 million USD in aid to North Korean leader Kim Jong Il if North Korea were to take part in the second round of six-nation nuclear negotiations in Beijing in February 2004. It said North Korea would get the money only after the conclusion of the talks, which they did. The foreign ministry of China confirmed the existence of an offer. According to U.S. officials, the $50 million grant included heavy fuel oil and the promise of a glass factory.