Chinese Government pledges to cancel $1 billion of African debt at China-Africa Forum

$1M USD

Funder	Unspecified Chinese Government Institution
Recipient Organization	Africa, regional
Country	Africa, regional
Start Date	Oct 01, 2000
End Date	Apr 26, 2031
Duration	11,164 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`16311`

Grant Description

At the first China-Africa Forum held in Beijing in 2000, China agreed to cancel 1 billion USD in African debts. The 1 billion USD is spread across African countries, and is recorded in bilateral flows for each recorded project. It also placed 190 products from 28 African countries on a tariff free roster.

Debt Forgiveness projects that may be under this umbrella have been recorded for Guinea-Bissau, Rwanda, Kenya, Niger, Tanzania, Cameroon, Mali, Sudan, Ethiopia, Congo, Lesotho, Comoros, Togo, Equatorial Guinea, Eritrea, Madagascar, Mozambique, Burundi, Angola, Central African Republic, Uganda, Cabo Verde, Guinea, Ghana, Democratic Republic of Congo, Benin, Nigeria, and Mozambique.

📚 Sources & References

http://www.africaneconomicoutlook.org/en/in-depth/emerging-partners/industrialisation-debt-and-governance-more-fear-than-harm/transparency-needed-to-end-debt-sustainability-fears/
A meeting of minds - and needs
The Follow-ups of the 1st FOCAC Ministerial Conference 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.