Completed Development AidData Chinese Aid

Chinese Government forgives outstanding debt obligations from an RMB 50 million loan contracted in 1994

¥50M RMB

Funder	China Ministry of Commerce
Recipient Organization	Ministry of Finance of the Kyrgyz Republic
Country	Kyrgyz Republic
Start Date	Aug 15, 2007
End Date	Nov 30, 2027
Duration	7,412 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`40360`

Grant Description

On August 15, 2007, the Chinese Government agreed to convert an RMB 50 million loan that it had signed with the Government of the Kyrgyz Republic on April 23, 1994 into a grant.

This write-off of the Government of the Kyrgyz Republic's outstanding debt obligations effectively represented an act of debt forgiveness.

This write-off came after the Ministry of Finance of the Kyrgyz Republic repeatedly asked the Chinese Government between 2005 and 2007 to convert the loan into a grant.

📋 Staff Comments

This project is not marked as umbrella since the original loan is from 1994, which is outside the timeframe of this dataset, so there is no chance of double counting.

📚 Sources & References

Kyrgyzstan's public external debt to be reduced by US$8 million, О ратификации Соглашения между Правительством Кыргызской Республики и Правительством Китайской Народной Республики о преобразовании Правительственного кредита в сумме 50 (пятьдесят) миллионов китайских юаней, предусмотренного на первой стадии Соглашения между Правительством Кыргызской Республики и Правительством Китайской Народной Республики о предоставлении Китайской Народной Республикой Кыргызской Республике государственного кредита от 23 апреля 1994 года, в грант, заключенного путем обмена письмами от имени Правительства Китайской Народной Республики от 15 августа 2007 года и ответного письма от имени Правительства Кыргызской Республики № 10-2-1/7161 от 15 августа 2007 года 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.