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Overview

Chinese Government cancels $4.24 million of the Government of Cambodia’s outstanding obligations

Commitments (Constant USD, 2023)$5,453,227
Commitment Year•2010Country of Activity•CambodiaDirect Recipient Country of Incorporation•CambodiaSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 5, 2010
Start (actual)
Nov 5, 2010
End (actual)
Nov 5, 2010

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

Government Agencies

  • Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

  • Government of Cambodia

Loan description

Chinese Government cancels $4.24 million of the Government of Cambodia’s outstanding obligations

Narrative

Full Description

Project narrative

On November 5, 2010, the Chinese Government canceled $4.24 million of the Government of Cambodia’s total outstanding obligations. These debts resulted from loans that the Government of Cambodia previously contracted and were scheduled to mature in 2010. The debt forgiveness agreement was formalized during a meeting with Prime Minister Hun Sen at the Premier’s Cabinet building in Phnom Penh.

Staff comments

Loans with a maturity period ending in 2010 pose little risk of double-counting, so AidData has not marked this as an Umbrella project.