Completed Development AidData Chinese Aid

Chinese Government cancels $53.5 million of the Government of Ghana’s outstanding debt obligations

$53.5M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of Ghana
Country	Ghana
Start Date	Jun 17, 2002
End Date	Jan 04, 2033
Duration	11,159 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`1462`

Grant Description

In June 2002, the Chinese Government agreed to cancel $53.5 million of the Government of Ghana’s outstanding debt obligations.

These obligations, which resulted from interest-fee loans that the Government of Ghana contracted between 1961 and 1964, reportedly represented 85 percent of the Government of Ghana’s total outstanding obligations to the Chinese Government.

📋 Staff Comments

1. 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.

📚 Sources & References

http://www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID=24887
外交部副部長楊文昌訪問加納
加纳总统库福尔会见中国外交副部长杨文昌, http://www.qianzhengdaiban.com/geguogaikuang/4215_6.html
China writes off 85 pct of Ghana's debts to it.
China writes off 85% of Ghana's debts to it...
Debt Relief with Chinese Characteristics
SAIS-CARI China's Debt Cancellation In Africa Database*
China Grants Ghana US$3.6 Million, 1 GHANA – CHINA BI - LATERAL RELATIONS: A TREASURED FIFTY YEARS OF DIPLOMATIC
CULTURAL
ECONOMIC AND TRADE RELATIONS
中国对加纳经济援助简介（2007年版）
CHINA’S DEVELOPMENT INITIATIVES IN GHANA, 1961-2011 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.