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Overview

Chinese Government agrees to cancel RMB 100 million of Government of Mali's outstanding debt obligations

Commitments (Constant USD, 2023)$15,747,463
Commitment Year•2017Country of Activity•MaliDirect Recipient Country of Incorporation•MaliSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 7, 2017

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 Mali

Implementing agencies

Government Agencies

  • Government of Mali

Loan description

Chinese Government agrees to cancel RMB 100 million of Government of Mali's outstanding debt obligations

Narrative

Full Description

Project narrative

In November 2017, during the 2nd session of the Joint Commission for Economic, Commercial and Technical Cooperation between the Republic of Mali and the People's Republic of China, a Memorandum of Understanding (MoU) relating to the exemption of the partial debts of Mali for an amount of 100 million RMB, or approximately 8 billion CFA Francs, was signed. It is unclear which loans are affected by this MoU or its current status.

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 2017, 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).