Completed Development AidData Chinese Aid

Chinese Government cancels RMB 470 million of the Government of Sudan’s outstanding repayment obligations (Linked to Record ID#85348)

¥470M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Sudan
Country	Sudan
Start Date	Feb 02, 2007
End Date	May 23, 2028
Duration	7,781 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`1579`

Grant Description

On February 2, 2007, at the Friendship Hall in Khartoum, Sudan, Sudan's President Umar al-Bashir and China's President Hu Jintao signed a debt exemption protocol, which cancelled two sets of interest-free loans: one denominated in RMB and the other denominated in USD.

The Chinese Government reportedly forgave RMB 470 million (captured via Record ID#1579) and an additional $19 million (captured via Record ID#85348) of the Government of Sudan’s outstanding loan repayment obligations.

📋 Staff Comments

The PRC made a concerted effort in 2007 to forgive the debt from interest-free loans maturing by the end of 2005 to heavily-indebted African countries (http://kp.china-embassy.org/chn//zgxw/zgzxxw/t293317.htm).
Since interest-free loans usually have 20-year maturities (http://www.gov.cn/zwgk/2011-04/21/content_1850553.htm), we have assumed the loans included in this debt forgiveness package would have been contracted before 2000. As such, this project is not marked as umbrella, as there is little risk of double counting.

📚 Sources & References

China and the Developing World
SAIS-CARI China's Debt Cancellation In Africa Database*
China's Hu tells Sudan it must solve Darfur issue
China
Sudan ink seven cooperation accords
China tells Sudan to give UN bigger role in Darfur resolution
UNITED NATIONS MISSION IN SUDAN UNMIS Media Monitoring Report, http://global.factiva.com/aa/?ref=BBCMEP0020070202e322004jz&pp=1&fcpil=en&napc=S&sa_from=
China's Foreign Aid
Debt Relief with Chinese Characteristics
Sudan
China sign seven cooperation accords
China and Conflict-Affected States: Between Principles and Pragmatism (South Sudan Case) 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.