Project ID: 58867

Chinese Government cancels RMB 148,320,000 of the Government of DRC’s outstanding debt obligations (Linked to project #58870)

Commitment amount

$ 44788969.50192577

Adjusted commitment amount

$ 44788969.5

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Congo (DRC)

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

2002-01-01

Description

In 2002, the Chinese Government and the Government of the Democratic Republic of Congo signed a debt exemption protocol, which cancelled RMB 148,320,000 of the Government of the Democratic Republic of Congo’s outstanding debt obligations. It also cancelled $6 million of the Government of the Democratic Republic of Congo’s outstanding debt obligations. The linked project #58870 captures the $6 million debt cancellation, and this project captures the RMB-denominated debt cancellation.

Additional details

This project is not marked as umbrella as the loans would have been contracted prior to 2000 (the start of our dataset), so there is little risk of double counting.

Number of official sources

2

Number of total sources

4

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Democratic Republic of Congo [Government Agency]