Skip to content
AidData logo

Overview

Chinese Government cancels RMB 49.7 million of Government of Cape Verde’s outstanding debt obligations

Commitments (Constant USD, 2023)$13,945,542
Commitment Year•2001Country of Activity•Cabo VerdeDirect Recipient Country of Incorporation•Cabo VerdeSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 12, 2001
Start (actual)
Jul 12, 2001
End (actual)
Jul 12, 2001

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

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Government of Cabo Verde

Loan description

Chinese Government cancels RMB 49.7 million of Government of Cape Verde’s outstanding debt obligations

Narrative

Full Description

Project narrative

On July 12, 2001, the Chinese Government and the Government of Cape Verde signed a partial debt exemption protocol agreement (中华人民共和国政府和佛得角共和国政府关于免除佛得角政府部分债务议定书 or Protocolo sobre a anulacao parcial das dividas do Governo de Cabo Verde entre o Governo da Republica de Cabo Verde e o Governo da Republica Popular da China). Under the terms of this agreement, the Chinese Government agreed to cancel the Government of Cape Verde outstanding debt obligations related to 3 interest-free loans: an RMB 20 million interest-free loan contracted on July 25, 1980, an RMB 9.7 million interest-free loan contracted in December 1984, and an RMB 20 million interest-free loan contracted on May 30, 1986.

Staff comments

This project is not marked as umbrella since the loans being forgiven were contracted before the time frame of the dataset (2000+).