Chinese Government cancels RMB 627.6 million of the Government of Cambodia’s outstanding obligations

On October 14, 2016, when Chinese President Xi Jinping visited Cambodia, the Chinese Government canceled RMB 627,620,000 of the Government of Cambodia’s total outstanding debt obligations. These obligations were related to previously contracted loans that were slated to reach maturity before the end of 2015.

Additional details

1. The loans forgiven through this action were almost certainly interest-free loans committed through previous ETCAs that were signed by the two governments. As such, the loans likely had maturity lengths of 20 years and since they had reached maturity by 2015, they were likely 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

6

Number of total sources

15