Chinese Government cancels RMB 75 million of the Government of Cote d'Ivoire’s outstanding obligations
Commitment amount
$ 14268725.699132975
Adjusted commitment amount
$ 14268725.7
Constant 2021 USD
Summary
Funding agency [Type]
Unspecified Chinese Government Institution [Government Agency]
Recipient
Cote d'Ivoire
Sector
Action relating to debt (Code: 600)
Flow type
Debt forgiveness
Infrastructure
No
Category
Project lifecycle
Description
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.
Additional details
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).
Number of official sources
7
Number of total sources
12
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Côte d'Ivoire (Ivory Coast) [Government Agency]