Chinese Government cancels RMB 80 million of Government of Benin's outstanding debt obligations
Commitment amount
$ 15219974.079075173
Adjusted commitment amount
$ 15219974.08
Constant 2021 USD
Summary
Funding agency [Type]
Unspecified Chinese Government Institution [Government Agency]
Recipient
Benin
Sector
Action relating to debt (Code: 600)
Flow type
Debt forgiveness
Infrastructure
No
Category
Project lifecycle
Description
On September 20, 2011, President Thomas Boni Yayi of Benin announced that the Chinese Government agreed to cancel an RMB 80 million outstanding debt obligation of the Government of Benin.
Additional details
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 2011, 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).
Number of official sources
4
Number of total sources
7
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Benin [Government Agency]