Project ID: 59048

Chinese Government cancels $34 million of the Government of Cameroon's outstanding obligations

Commitment amount

$ 85494284.0920525

Adjusted commitment amount

$ 85494284.09

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Cameroon

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

2001-11-01

Planned start

2001-10-31

Actual start

2001-10-31

Actual complete

2001-10-31

Description

In November 2001, the People's Republic of China signed a partial debt cancellation agreement with the Government of Cameroon. Several sources identify $34 million as the total value of the debt forgiveness; however, the World Bank and the IMF identify the cancellation amount as $20.4 million in net present value (NPV) terms.

Additional details

The transaction amount is coded as $34 million for the time being due to the number of sources that identify it as the transaction amount. This project is not marked as umbrella because we do not capture any loan projects in Cameroon prior to 2007, so there is no risk of double-counting.

Number of official sources

2

Number of total sources

9

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Cameroon [Government Agency]