Project ID: 73512

Chinese Government cancels CFAF 3.5 billion of the Government of Senegal’s outstanding debt obligations

Commitment amount

$ 13139779.223336518

Adjusted commitment amount

$ 13139779.22

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Senegal

Sector

Action relating to debt (Code: 600)

Flow type

Grant

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

2007-12-31

Actual complete

2007-12-31

Description

Prior to the Government of Senegal severing its diplomatic ties with the People’s Republic of China (PRC) in 1996, it obtained an interest-free loan from the (PRC). Then, in 2007, after a resumption of diplomatic ties between the two countries, the PRC agreed to cancel the Government of Senegal’s outstanding debt obligations (worth CFAF 3.5 billion) that resulted from this interest-free loan.

Number of official sources

1

Number of total sources

8

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Senegal [Government Agency]

Implementing agencies [Type]

Government of Senegal [Government Agency]