Chinese Government cancels RMB 149 million of the Government of Togo’s outstanding debt obligations

¥149M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Togo
Country	Togo
Start Date	Jul 01, 2007
End Date	Jul 23, 2031
Duration	8,788 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`2183`

Grant Description

In July 2007, the Chinese Government signed an agreement with the Government of Togo to cancel RMB 149 million ($20.35 million USD) of Togo’s outstanding debt obligations to China. China cancelled the debt the same month.

All of the loans that were forgiven matured on or before December 31, 2005 and represented 100% of the outstanding debt due before that date.

📋 Staff Comments

This debt forgiveness project is not marked as an umbrella project since the original loan was contracted before 2000, so there is no risk of double counting.

📚 Sources & References

Chinese agency interviews Togolese foreign minister on cooperation
REPUBLIC OF TOGO : COMPLETION POINT DOCUMENT FOR THE ENHANCED HIPC INITIATIVE
Togo: 2011 Article IV
Debt Relief with Chinese Characteristics
SAIS-CARI China's Debt Cancellation In Africa Database*
Photo exhibition on China-Africa cooperation achievements, http://global.factiva.com/aa/?ref=BBCAPP0020071106e3b6003bj&pp=1&fcpil=en&napc=S&sa_from=
China's Foreign Aid 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.