Project ID: 41976

Chinese Government cancels RMB 113 million of Government of Kenya's outstanding debt obligations

Commitment amount

$ 34328578.88589104

Adjusted commitment amount

$ 34328578.89

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Kenya

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

2001-07-16

Actual start

2001-07-16

Actual complete

2001-07-16

Description

On July 16, 2001, the Chinese Government canceled RMB 113 million (about $13.66 million USD) of the Government of Kenya's outstanding debts. This amount was reportedly equivalent to 55 percent of the Government of Kenya's total outstanding debt to the Chinese Government at the time. The agreement is called 关于免除肯尼亚政府部分债务的议定书 in Chinese.

Additional details

This project is not marked as umbrella because we do not capture any loan projects in Kenya prior to 2001, so there is no risk of double-counting.

Number of official sources

3

Number of total sources

5

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Kenya [Government Agency]