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Overview

China donates FCFA 35 billion to Republic of the Congo (linked to Record ID #88157)

Commitments (Constant USD, 2023)$58,202,365
Commitment Year•2021Country of Activity•CongoDirect Recipient Country of Incorporation•CongoSector•Unallocated/unspecifiedFlow Type•Grant

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Feb 13, 2021

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

  • Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

  • Government of Republic of Congo

Loan desecription

China donates FCFA 35 billion to Republic of the Congo (linked to Record ID #88157)

Narrative

Full Description

Project narrative

On February 4, 2021, Chinese Ambassador Ma Fulin held an audience with the President of the Republic, Denis Sassou N'Guesso, where he stated China's intent to donate 100,000 doses of the coronavirus vaccine to the government of the Republic of the Congo (see Record ID #93571). This donation came alongside a debt cancellation agreement (see Record ID# 88157) and a donation of FCFA 35 billion. Then, on February 13, 2021, the Chinese Government signed an agreement with the Government of the Republic of Congo to forgive about 7.8 billion CFA francs of the Congo's outstanding debt. The debt forgiveness applies specifically to two interest-free loan payments that were due in December 2020. At the same time, Chinese Ambassador to Congo Ma Fulin indicated China's intent to donate FCFA 35 billion for unspecified cooperation projects.