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Overview

Chinese Government cancels RMB 730 million of the Government of Yemen’s outstanding repayment obligations

Commitments (Constant USD, 2023)$114,956,480
Commitment Year•2017Country of Activity•YemenDirect Recipient Country of Incorporation•YemenSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2017
Start (actual)
Oct 17, 2017
End (actual)
Oct 17, 2017

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

  • Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

  • Government of Yemen

Loan description

Chinese Government cancels RMB 730 million of the Government of Yemen’s outstanding repayment obligations

Narrative

Full Description

Project narrative

In 2017, the Chinese Government reportedly canceled more than RMB 730 million of the Government of Yemen's outstanding debt obligations.

Staff comments

1. The loans forgiven through this action were almost certainly interest-free loans committed through previous ETCAs. As such, the loans likely had maturity lengths of 20 years and since they had reached maturity no later than 2017, they were almost certainly contracted prior to 2000. Therefore, AidData has not assigned this record to the umbrella category (as there is little risk of double counting the monetary value of the debts that were forgiven).