Skip to content
AidData logo

Overview

Chinese Government cancels $3 million of the Government of Eritrea’s outstanding obligations

Commitments (Constant USD, 2023)$6,750,105
Commitment Year•2003Country of Activity•EritreaDirect Recipient Country of Incorporation•EritreaSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2003

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

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Government of Eritrea

Loan description

Chinese Government cancels $3 million of the Government of Eritrea’s outstanding obligations

Narrative

Full Description

Project narrative

On June 15, 2003, Eritrean Economic Advisor Woldai Futur and China’s Vice Minister for Foreign Trade and Economic Cooperation Zhou Keren signed a $3 million debt forgiveness agreement. These loan repayment obligations resulted from a $3 million interest-free loan that the Chinese Government issued in 1994 to the Government of Eritrea to facilitate the acquisition of agricultural machinery.