Chinese Government reschedules the Government of Albania’s post-1978 arrears
Commitment amount
$ 99614193.16278614
Adjusted commitment amount
$ 99614193.16
Constant 2021 USD
Summary
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Recipient
Albania
Sector
Action relating to debt (Code: 600)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
On December 18, 2001, the Chinese Government and the Government of Albania signed a debt rescheduling agreement (Marrëveshje për riskedulimin e borxheve). Under the terms of this agreement, the Government of Albania’s outstanding debt obligations (resulting from post-1978 arrears) were consolidated and it agreed to repay $39,615,310 to the Chinese Government over an 11.5 year repayment period (beginning on May 30, 2004 and ending on November 30, 2015).
Additional details
1. Given that the consolidated debts are not captured elsewhere in AidData's dataset, we treat the December 18, 2001 debt rescheduling agreement as a loan agreement and code the record's flow type as a Loan rather than a Debt Rescheduling.
Number of official sources
3
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Albanian Ministry of Finance [Government Agency]
Implementing agencies [Type]
Albanian Ministry of Finance [Government Agency]
Loan Details
Maturity
14 years
Grace period
3 years