Chinese Government cancels RMB 180 million of the Government of Cote d'Ivoire’s outstanding obligations

¥180M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Côte d'Ivoire (Ivory Coast)
Country	Cote d'Ivoire
Start Date	Jan 01, 2007
End Date	Nov 07, 2029
Duration	8,346 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`20244`

Grant Description

On 14 May 2007, the Chinese Government cancelled RMB 180 million of the Government of Cote d'Ivoire’s outstanding debt obligations. The obligations resulted from unspecified interest-free loans.

These debts reportedly represented 40% of the Government of Cote d'Ivoire’s total outstanding debt obligations to the Chinese Government.

During the same meeting, officials also signed a EUR 10 million grant agreement (#13025) and EUR 1 million interest-free loan agreement (#709).

📋 Staff Comments

This project has not been marked as umbrella since the loans that were canceled were almost certainly contracted in the 1990s and there is a minimal risk of double-counting.

📚 Sources & References

Côte d'Ivoire: China writes off 40% of debt
SAIS-CARI China's Debt Cancellation In Africa Database*
Eco Actualites
Debt Relief with Chinese Characteristics
Cote d'Ivoire: Cooperation
China cancels more than 11 billion in Ivorian debt 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.