Overview

Chinese Government cancels RMB 30 million of Government of Cameroon's outstanding debt obligations

Commitments (Constant USD, 2023)$5,700,050

Commitment Year•2010Country of Activity•CameroonDirect Recipient Country of Incorporation•CameroonSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Aug 13, 2010

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 Cameroon

Loan description

Chinese Government cancels RMB 30 million of Government of Cameroon's outstanding debt obligations

Narrative

Full Description

Project narrative

On August 13, 2010, at the Africa-China Forum in Sharm el Sheikh (Egypt), the Chinese Government signed a debt exemption protocol, canceling RMB 30 million of the Government of Cameroon's outstanding debt obligations.

Staff comments

The loans forgiven through this action were almost certainly interest-free loans committed through previous ETCAs. As such, the loans likely had maturity lengths of 20 years and since they had reached maturity no later than 2010, they were almost certainly contracted prior to 2000. Therefore, AidData has not assigned this record to the umbrella category (as there is little risk of double counting the monetary value of the debts that were forgiven).