Overview

Chinese Government cancels Rs 450 million of Government of Mauritius' outstanding debt obligations

Commitments (Constant USD, 2023)$13,811,015

Commitment Year•2016Country of Activity•MauritiusDirect Recipient Country of Incorporation•MauritiusSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 7, 2016

Start (actual): Nov 1, 2016

End (actual): Nov 1, 2016

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 Mauritius

Implementing agencies

Government Agencies

Ministry of Finance, Economic Planning and Development of Mauritius

Loan desecription

Chinese Government cancels Rs 450 million of Government of Mauritius' outstanding debt obligations

Narrative

Full Description

Project narrative

In November 2016, China agreed to write off a 450 million Rs debt to Mauritius to help continue positive relations between the countries. This decision came after the 10th Sino-Mauritius Joint Economic Commission was held in Beijing.

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 2016, 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).