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Overview

Chinese Government cancels RMB 75 million of the Government of Cote d'Ivoire’s outstanding obligations

Commitments (Constant USD, 2023)$13,185,322
Commitment Year•2011Country of Activity•Cote d'IvoireDirect Recipient Country of Incorporation•Cote d'IvoireSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2011
Start (actual)
Jun 23, 2011
End (actual)
Jun 23, 2011

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 Côte d'Ivoire (Ivory Coast)

Loan description

Chinese Government cancels RMB 75 million of the Government of Cote d'Ivoire’s outstanding obligations

Narrative

Full Description

Project narrative

On June 23, 2011, the Chinese Government cancelled RMB 75 million (CFA 5,478,657,300) of the Government of Cote d'Ivoire’s outstanding debt obligations. These obligations resulted from multiple unspecified interest-free loans that had reached their maturity dates by the end of 2009.

Staff comments

The loans forgiven through this action were almost certainly interest-free loans committed through previous ETCAs. As such, the loans likely had maturity lengths of 20 years and since they had reached maturity no later than 2009, they were almost certainly 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).