China grants $60 million USD to Nauru (Linked to Record ID#41996)

Funder	China (People's Republic of)
Recipient Organization	Nauru
Country	Nauru
Start Date	Aug 26, 2002
End Date	Dec 08, 2033
Duration	11,427 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`37645`

Grant Description

On July 21, 2002, Nauru's acting president Remy Namaduk signed a joint communique with the Chinese Assistant Foreign Minister Zhou Wenzhong in which China committed to grant $60 million USD in aid and forgive $77 million USD in debt (#41996) in exchange for Nauru cutting ties with Taiwan and recognizing Beijing's One China Policy.

How exactly these funds were spent and whether they were ever disbursed are unknown. 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.