Overview

Chinese Government cancels GBP 27 million of the Government of Myanmar’s outstanding obligations (Linked to Record ID#67509)

Commitments (Constant USD, 2023)$99,242,081

Commitment Year•2003Country of Activity•MyanmarDirect Recipient Country of Incorporation•MyanmarSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 14, 2003

Start (actual): Jan 14, 2003

End (actual): Jan 14, 2003

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 Myanmar (Burma)

Loan description

Chinese Government cancels GBP 27 million of the Government of Myanmar’s outstanding obligations (Linked to Record ID#67509)

Narrative

Full Description

Project narrative

On January 14, 2003, the Chinese Government and the Government of Myanmar signed a partial debt exemption protocol, which cancelled the Government of Myanmar’s outstanding obligations under two interest-free loans that it previously contracted: an interest-free loan worth RMB 100 million that the two governments signed on June 12, 1979 (as captured via Record ID#67509) and a loan worth GBP 27 million that the two governments signed on January 9, 1961 (as captured via Record ID#67508).

Staff comments

1. This debt forgiveness project is not marked as an umbrella record since the original loan was contracted before 2000, so there is no risk of double counting. 2. The partial debt exemption protocol is known in Chinese as 中华人民共和国政府和缅甸联邦政府关于免除缅甸联邦政府部分债务的议定书.