Overview

Chinese Government reschedules loan to Yemen for textile factory by extending repayment period

Commitment Year•2003Country of Activity•YemenDirect Recipient Country of Incorporation•YemenSector•Action Relating To DebtFlow Type•Debt rescheduling

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2003

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 Yemen

Loan description

Chinese Government reschedules loan to Yemen for textile factory by extending repayment period

Interest type•Fixed Interest Rate

Narrative

Full Description

Project narrative

On December 17, 2003, the Chinese Government and the Government and Yemen reportedly signed a debt rescheduling agreement, which extended the repayment period (and period of use) of a loan that the Government of Yemen obtained on February 16, 1998 for the development of a textile factory. The rescheduling agreement was signed by Deputy Primer and Minister of Planning and International Cooperation Ahmad Sofan along with the Chinese Deputy Commerce Minister Wei Jiam Quo.

Staff comments

One media source indicates that the loan was contracted in 1996 rather than 1998. This issue merits further investigation.