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Chinese Government cancels RMB 600 million of the Government of Bangladesh's outstanding obligations
| Funder | Unspecified Chinese Government Institution |
|---|---|
| Recipient Organization | Government of Bangladesh |
| Country | Bangladesh |
| Start Date | Aug 01, 2011 |
| End Date | Aug 27, 2030 |
| Duration | 6,966 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 34325 |
Grant Description
In August 2011, the Chinese Government exempted the Government of Bangladesh from repaying the outstanding debts associated with 9 interest-free loans (collectively worth RMB 600 million or approximately $94.92 million) after they entered their planned repayment periods on December 31, 2010.
Five of the nine interest-free loans were previously committed via Economic and Technical Cooperation Agreements (ETCAs) and four of these interest-free loans were previously committed via military aid agreements.
Staff Comments
1. The loans forgiven through this action were interest-free loans committed through previous ETCAs that were signed by the two governments. As such, the loans likely had maturity lengths of 20-years and since they had reached maturity by 2010, they were almost certainly contracted prior to 2000. Therefore, AidData has not assigned this record to the umbrella category (as there is little to no risk of double counting the monetary value of the debts that were forgiven).
Sources & References
- Dhaka-Beijing sign interest- free loan protocol
- 中孟签署免债议定书
- China waives $94.92m loans 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 Bangladesh
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