Chinese Government cancels RMB 20 million of the Government of CAR’s outstanding debt obligations (Linked to Project ID#86588 and ID#378)

On June 24, 2019, the Chinese Government and the Government of the Central African Republic (CAR) signed an agreement, which cancelled RMB 20 million (1 billion CFA francs) of the Government of CAR’s outstanding debt obligations. These obligations appear to be the result of an interest free-loan that the Chinese Government issued to the CAR Government on March 11, 2004 (as captured via Project ID#378). The agreement was signed by CAR Minister of the Economy, Planning and Cooperation, Félix Moloua, and the Chinese Ambassador to the Central African Republic, Chen Dong. CAR President Faustin-Archange Touadéra, CAR Prime Minister Firmin Ngrébada, and some members of the government including Ministers Henri-Marie Dondra of Finance and Budget, Marie-Noël Koyara of National Defense, Sylvie Baïpo of Foreign Affairs and Pierre Somsé of Health were present at the signing of the agreement.

Additional details

1. On the same day, the Chinese Government and the Government of the Central African Republic signed an RMB 200 million grant agreement (as captured via Project ID#86588). 2. To avoid double-counting, AidData has set the umbrella_project field to True since the loan that was forgiven was first contracted in 2004.

Number of official sources

2

Number of total sources

5