Project ID: 92585

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

Commitment amount

$ 7308191.221135612

Adjusted commitment amount

$ 7308191.22

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Eritrea

Sector

Action relating to debt (Code: 600)

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

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2003-01-01

Description

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.

Additional details

Number of official sources

1

Number of total sources

4

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Eritrea [Government Agency]