Overview

Chinese Government reschedules the Government of Albania’s post-1978 arrears

Commitments (Constant USD, 2023)$92,007,419

Commitment Year•2001Country of Activity•AlbaniaDirect Recipient Country of Incorporation•AlbaniaSector•Action Relating To DebtFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 18, 2001

Start (actual): Dec 18, 2001

End (actual): Nov 30, 2015

First repayment (originally scheduled): Jun 17, 2004

Last repayment (originally scheduled): Dec 15, 2015

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

Government Agencies

China Ministry of Commerce

Receiving agencies

Government Agencies

Albania Ministry of Finances

Implementing agencies

Government Agencies

Albania Ministry of Finances

Loan description

Chinese Government reschedules the Government of Albania’s post-1978 arrears

Grace period•2.5 yearsInterest type•UnknownMaturity•14 years

Narrative

Full Description

Project narrative

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).

Staff comments

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.