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Overview

Chinese Government partially cancels the Lao Government’s outstanding obligations

Commitment Year•2006Country of Activity•Lao People's Democratic RepublicDirect Recipient Country of Incorporation•Lao People's Democratic RepublicSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 21, 2006
Start (actual)
Nov 21, 2006
End (actual)
Nov 21, 2006

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 Laos

Loan description

Chinese Government partially cancels the Lao Government’s outstanding obligations

Narrative

Full Description

Project narrative

On November 21, 2006, the Chinese Government and the Government of Laos signed a partial debt exemption protocol, which cancelled the Government of Laos’s outstanding obligations under several interest-free loans that it previously contracted [《中国政府免除截至2004年底老挝政府对华到期无息贷款债务议定书》]. All of these interest-free loans reached their maturity dates by the end of 2004.

Staff comments

This debt forgiveness project is not marked as umbrella as the loans contracted would have been prior to 2000, so there is no risk of double counting.