Project ID: 56907

Chinese Government cancels RMB 82,850,000 of the Government of the Gambia’s outstanding debt obligations

Commitment amount

$ 14128297.908948837

Adjusted commitment amount

$ 14128297.91

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Gambia

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

2017-08-02

Actual start

2017-01-01

Actual complete

2017-01-01

Description

In August 2017, the Chinese Government and the Government of The Gambia signed a debt exemption protocol. Under the terms of this agreement, the Chinese Government agreed to cancel some of the Government of the Gambia’s outstanding debt obligations (worth RMB 82,850,000). These obligations resulted from four interest free-loans that the Government of The Gambia contracted between 1975 and 1991. All of these loans reach maturity by December 31, 2015.

Additional details

This project is not marked as umbrella since the loans being forgiven were contracted prior to 2000, so there is no risk of double counting.

Number of official sources

1

Number of total sources

4

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Gambia [Government Agency]