Project ID: 59634

Chinese Government cancels RMB 54,320,000 of the Government of Djibouti’s outstanding debt obligations

Commitment amount

$ 12849495.64288471

Adjusted commitment amount

$ 12849495.64

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Djibouti

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

2007-09-10

Actual start

2007-09-10

Actual complete

2007-09-10

Description

On 10 September, 2007, the Chinese Ambassador and a representative from the Djibouti Ministry of Foreign Affairs signed a debt cancellation agreement with the Government of Djibouti. More specifically, China agreed to forgive RMB 54,320,000 of outstanding debt obligations related to two interest-free loans that entered their repayment periods in December 2005.

Additional details

The amount of debt that was forgiven through the 10 September 2007 agreement is omitted from the SAIS-CARI China's Debt Cancellation in Africa Database released in June 2020. The forgiven loans were likely contracted prior to 2000 for them to have matured by December 2005, so this project is not marked as umbrella as the risk of double counting is low.

Number of official sources

2

Number of total sources

4

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Djibouti [Government Agency]