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Chinese Government cancels RMB 62.7 million of Government of Guinea-Bissau’s outstanding debt obligations
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Guinea-Bissau |
| Country | Guinea-Bissau |
| Start Date | Jun 29, 2001 |
| End Date | Jul 12, 2028 |
| Duration | 9,875 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 22683 |
Grant Description
On June 29, 2001, the Chinese Government and the Government of Guinea-Bissau signed a debt exemption protocol agreement.
Under the terms of this agreement, the Chinese Government agreed to cancel the Government of Guinea-Bissau’s outstanding debt obligations related to 6 interest-free loans.
The Government of Guinea-Bissau contracted these loans between 1975 and 1987 and all of the loans matured on or before December 31, 1999. The aggregate value of these outstanding debt obligations was RMB 62,757,069.
The exempted repayment obligations include (1) an interest-free loan worth RMB 30 million that was contracted on July 9, 1975; (2) an interest-free commodity loan worth RMB 3 million that was contracted on August 14th, 1982; (3) an interest-free loan worth RMB 160,000 that was contracted on November 7, 1983; (4) an interest-free loan worth RMB 4,600,000 that was contracted on October 18, 1985; (5) an interest-free loan worth RMB 10 million that was contracted on May 19, 1986; and (6) an interest-free loan worth RMB 15 million that was contracted on November 15, 1987.
Sources & References
- http://www.imf.org/external/pubs/ft/scr/2002/cr02153.pdf
- Guinea-Bissau- 2011
- Guinea-Bissau: Enhanced Initiative for Heavily Indebted Poor Countries— Completion Point Document and Multilateral Debt Relief Initiative
- Debt Relief with Chinese Characteristics
- SAIS-CARI China's Debt Cancellation In Africa Database
- INTERNATIONAL MONETARY FUND AND INTERNATIONAL DEVELOPMENT ASSOCIATION GUINEA-BISSAU Decision Point Document Under the Enhanced Initiative for Heavily Indebted Poor Countries
- INTERNATIONAL DEVELOPMENT ASSOCIATION AND INTERNATIONAL MONETARY FUND GUINEA-BISSAU Joint World Bank/IMF Debt Sustainability Analysis
- 中华人民共和国政府和几内亚比绍共和国政府关于免除几内亚比绍政 府债务议定书
- 中华人民共和国政府和几内亚比绍共和国政府关于免除几内亚比绍政府债务议定书
- Examining the Debt Implications of the Belt and Road Initiative from a Policy Perspective 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.
All Grantees
Government of Guinea-Bissau
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