Chinese Government reschedules a 1991 loan to Cameroon by extending maturity period by 5 years

Funder	China Ministry of Commerce
Recipient Organization	Government of Cameroon
Country	Cameroon
Start Date	Aug 31, 2002
End Date	Oct 06, 2031
Duration	10,628 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`278`

Grant Description

On August 31, 2002, the Chinese Government and the Government of Cameroon signed five cooperation agreements, one of which was a debt rescheduling agreement.

Under this agreement, a loan worth nearly FCFA 4,000 million francs (~$6 million USD) that was contracted in 1991 and due for repayment by September 2001 (an original maturity period of 10-years) was rescheduled. Its maturity was extended by 5 additional years.

📋 Staff Comments

No transaction amount is recorded since this project represents a loan rescheduling, not an original flow of resources to recipient country.

📚 Sources & References

Chinese
Cameroonian premiers sign cooperation agreements.
China to build sports complex in Cameroon
SAIS-CARI China's Debt Cancellation In Africa Database*
Zhu Rongji Holds Talks with Prime Minister of Cameroon 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.