Chinese Government cancels RMB 345.8 million of Government of Mali’s outstanding debt obligations (Linked to Project ID#1513)

On December 13, 2006, the Chinese Government and the Government of Mali signed an economic and technical cooperation agreement (ETCA), which referenced the cancellation of RMB 345,833,600 of Government of Mali outstanding debt obligations. Then, on March 29, 2007, the Chinese Government and the Government of Mali signed a partial debt exemption protocol agreement. On July 4, 2007, the two governments agreed upon bank account processing rules for the implementation of the debt forgiveness agreement.

Additional details

1. The Chinese Government made a concerted effort in 2007 to forgive the debt from interest-free loans maturing by the end of 2005 to heavily-indebted African countries (http://kp.china-embassy.org/chn//zgxw/zgzxxw/t293317.htm). Since interest-free loans usually have 20 year maturities (http://www.gov.cn/zwgk/2011-04/21/content_1850553.htm), AidData assumes the loans included in this debt forgiveness package would have been contracted before 2000. As such, this project is not marked as an umbrella record as there is little risk of double counting. 2. As part of this same ETCA, The Government Government provided an RMB 30 million grant to the Government of Mali (as captured via Project ID#1513.

Number of official sources

4

Number of total sources

7