Chinese Government cancels RMB 113 million of Rwanda's outstanding debt obligations

¥113.18M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Rwanda
Country	Rwanda
Start Date	Nov 12, 2001
End Date	Aug 24, 2028
Duration	9,782 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`1876`

Grant Description

On November 12, 2001, Chinese President Jiang Zemin and Rwandan President Paul Kagame signed a debt reduction deal cancelling expired Rwandan loans totaling 113 million yuan. This is based on a plan on debt exemption and reduction set forth during the Sino-African forum for cooperation.

📋 Staff Comments

In the same agreement, China cancelled 2.7 million US Dollars worth of expired Rwandan loans. See Project ID#1867.This project is not marked as umbrella because we do not capture any loan projects in Rwanda prior to 2009, so there is no risk of double-counting.

📚 Sources & References

http://www.fmprc.gov.cn/eng/wjb/zzjg/fzs/gjlb/3064/3066/t16565.htm
China's Jiang meets Rwandan leader, extends aid and forgives debt
江泽民主席会见卢旺达总统卡加梅
江泽民主席会见卢旺达总统卡加梅
江主席会见卢旺达总统卡加梅总统
Debt Relief with Chinese Characteristics 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.