Project ID: 92442

Chinese Government cancels RMB 40 million of the Government of Rwanda’s outstanding debt obligations in 2021

Commitment amount

$ 6201550.387596899

Adjusted commitment amount

$ 6201550.39

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Rwanda

Sector

Unallocated/unspecified (Code: 998)

Flow type

Debt forgiveness

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

Implementation (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2021-02-19

Description

On February 19, 2021, the Chinese Government and the Government of Rwanda signed a debt cancellation agreement. The agreement was signed by Uzziel Ndagijimana, the Minister of Finance and Economic Planning on behalf of the Government of Rwanda, and Rao Hongwei, the Ambassador of the People’s Republic of China to Rwanda. China’s Ministry of Commerce (MOFCOM) agreed to cancel RMB 40 million ($6 million) of the Government of Rwanda’s outstanding debt obligations. These obligations resulted from an interest-free loan that the Government of Rwanda had previously contracted.

Number of official sources

3

Number of total sources

9

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Rwanda [Government Agency]