Project ID: 52263

Chinese Government cancels $30 million of Government of Guinea-Bissau’s outstanding debt obligations

Commitment amount

$ 35424135.25075401

Adjusted commitment amount

$ 35424135.25

Constant 2021 USD

Summary

Funding agency [Type]

Unspecified Chinese Government Institution [Government Agency]

Recipient

Guinea-Bissau

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

2016-10-15

Actual start

2016-10-15

Actual complete

2016-10-15

Description

In October 2016, the Chinese Government forgave $30 million of the Government of Guinea-Bissau’s outstanding debt obligations. The debts were forgiven on the basis of solidarity and an act of China's efforts to strengthen ties with Portuguese-speaking African nations.

Additional details

1. This debt cancellation is not included in the dataset of Chinese debt cancellations and restructurings released by SAIS-CARI in 2020. 2. 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 2016, they were likely 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).

Number of official sources

0

Number of total sources

5

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Guinea-Bissau [Government Agency]