Project ID: 66991

Chinese Government forgives RMB 250 million of Government of Ghana’s outstanding debt obligations

Commitment amount

$ 40905003.851290256

Adjusted commitment amount

$ 40905003.85

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Ghana

Sector

Action relating to debt (Code: 600)

Flow type

Debt forgiveness

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2019-11-11

Actual start

2019-11-12

Actual complete

2019-11-12

Description

On November 11, 2019, Ghana’s Vice President Mahamudu Bawumia announced that the Chinese Government had cancelled RMB 250 million of the Government of Ghana’s outstanding debt obligations. It is unclear why these debt obligations were originally contracted by the Government of Ghana.

Number of official sources

1

Number of total sources

6

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Ghana [Government Agency]