Completed Development AidData Chinese Aid

Chinese Government cancels $50.37 million of the Government of Yemen’s outstanding obligations

$50.37M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of Yemen
Country	Yemen
Start Date	Nov 06, 2002
End Date	May 20, 2029
Duration	9,692 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`41077`

Grant Description

On November 6, 2002, the Chinese Government and the Government of Yemen signed a partial debt exemption protocol agreement (中华人民共和国政府和也门共和国政府关于免除也门共和国部分债务的议定书).

The agreement reportedly stipulated that the Chinese Government would forgive the Yemeni Government’s outstanding obligations under seven loans that it contracted between the years of 1958 and 1989.

Several media sources indicate that the Chinese Government agreed to forgive $84 million in total (out of Yemen’s total outstanding debt to China of $185 million). However, Yemen’s Central Bank reports that $50.37 million was forgiven during 2002. AidData relies upon the value reported by Yemen’s Central Bank.

📋 Staff Comments

1. One source indicates that the Chinese Government previously agreed in 2001 to exempt the Yemeni Government from repaying RMB 75.9 million of debt (from loans that it contracted between 1958 and 1972). However, it is unclear if these are separate debts from those covered by the November 6, 2002 partial debt exemption protocol agreement. This issue merits further investigation.

📚 Sources & References

Speech by Assistant Foreign Minister Shen Guofang at the Meeting on Least Developed Countries of the 60th Session ESCAP, 11月6日,中国驻也门大使高育生和也门财政部长阿勒维·萨利赫·赛拉米分别代表各自政府在也门首都萨那签订了
Yemen foreign debt climbs by $ 34 million
CENTRAL BANK OF YEMEN ANNUAL REPORT 2002 GENERAL DEPARTMENT OF RESEARCH AND STATISTICs
中国免除也门部分债务
CHINA ELIMINATES $84 MILLION YEMENI DEBT
THE YEMEN-CHINA ECONOMIC
COMMERCIAL
AND TECHNICAL RELATIONS DURING ALI ABDULLAH SALEH'S ADMINISTRATION FROM 1990 TO 2012 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.