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Overview

China forgives 6 interest-free loans that Somalia contracted

Commitment Year•2009Country of Activity•SomaliaDirect Recipient Country of Incorporation•SomaliaSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Oct 6, 2009

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

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Government of Somalia

Loan description

China forgives 6 interest-free loans that Somalia contracted

Narrative

Full Description

Project narrative

On October 6, 2009, the Chinese Government and the Government of Somalia signed a debt forgiveness agreement in Nairobi, under which the Chinese Government agreed to forgive the Government of Somalia's outstanding debt obligations under 6 interest-free loan agreements that it previously contracted.

Staff comments

1. This record is not coded as an umbrella recorded because the original loan commitment is not captured in AidData's GCDF dataset, so there is no risk of double counting.