Chinese Government cancels $22.5 million of Government of Benin outstanding debt obligations

On 31 January, 2002, the Chinese Government and the Government of Benin signed a debt exemption protocol agreement [中华人民共和国政府和贝宁共和国政府关于免除贝宁政府部分债务议定书]. Under the terms of this agreement, the Chinese Government agreed to cancel an RMB 80 million outstanding debt obligation and a 6.9 billion CFA francs debt obligation of the Government of Benin. The aggregate value of these outstanding debt obligations was approximately $22.5 million.

Additional details

The Table labeled "贝宁公共债务一览表“ (List of Benin's Public Debt as of 31 March, 2002) records in the last column and third row that the loan repayment (还袋情况) was reduced by RMB 80 million (已减8000万RMB) (See: 贝宁公共债务简析). The loan(s) that were forgiven through this action could not be captured in other transactions in the dataset (since the forgiven loans were almost certainly contracted well before 2000), so AidData has not assigned this record to the umbrella category.

Number of official sources

4

Number of total sources

8