Overview

Chinese Government cancels $35 million of the Government of Mozambique’s outstanding debt obligations

Commitments (Constant USD, 2023)$81,288,261

Commitment Year•2001Country of Activity•MozambiqueDirect Recipient Country of Incorporation•MozambiqueSector•Action Relating To DebtFlow Type•Debt forgiveness

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2001

Start (actual): Jul 11, 2001

End (actual): Jul 11, 2001

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 Mozambique

Loan desecription

Chinese Government cancels $35 million of the Government of Mozambique’s outstanding debt obligations

Narrative

Full Description

Project narrative

On July 10, 2001, the Chinese Government and the Government of Mozambique signed an agreement on the partial cancellation of the Government of Mozambique outstanding debt obligations to the Chinese Government. The Chinese Government reportedly cancelled the Government of Mozambique’s outstanding debt obligations by $35 million. These obligations resulted from five interest-free loans that the Government of Mozambique previously contracted with the Chinese Government. All of these loans were set to mature on or before December 31, 1999.

Staff comments

This project is not marked as umbrella because the original debt is not captured in our dataset, so there is no risk of double counting.