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Overview

China Eximbank suspends principal and interest payments under multiple loans -- via DSSI -- between May and December 2020

Commitment Year2020Country of ActivityTajikistanDirect Recipient Country of IncorporationTajikistanSectorAction Relating To DebtFlow TypeDebt rescheduling

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Aug 5, 2020
Start (actual)
Aug 5, 2020

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

  • Government of Tajikistan

Implementing agencies

Government Agencies

  • Government of Tajikistan

Loan description

China Eximbank suspends principal and interest payments under multiple loans -- via DSSI -- between May and December 2020

Interest typeFixed Interest Rate

Narrative

Full Description

Project narrative

On August 5, 2020, China Eximbank and the Government of Tajikistan signed a debt suspension agreement as part of the Debt Service Suspension Initiative (DSSI). Under the terms of the agreement, the lender agreed to suspend principal and interest payments due between May and December 2020 under multiple loan agreements. The total suspension amount was $39,267,000.00 ( $30,435,000.00 in principal payments and $8,832,000.00 in interest payments). Then, in September 2020, Paris Club creditor countries agreed to provide to the Republic of Tajikistan a time-bound suspension of debt service due from May 1, 2020 to December 31, 2020.

Staff comments

1. According to information that the Government of Tajikistan provided to the World Bank through the Debtor Reporting System (DRS), the total suspension amount under the Government of Tajikistan’s August 2020 debt suspension agreement with China Eximbank was $39,267,000.00 ( $30,435,000.00 in principal payments and $8,832,000.00 in interest payments). See https://www.dropbox.com/scl/fi/shqo5w418nwvocuiibhn8/IDS-Principal-and-Interest-Amounts-Rescheduled-14-July-2024.xlsx?rlkey=6mka34nyg2qpwd7lvgfxz6x87&dl=0