Chinese Government cancels RMB 113 million of Government of Kenya's outstanding debt obligations

Funder	China (People's Republic of)
Recipient Organization	Kenya
Country	Kenya
Start Date	Dec 22, 2001
End Date	Jul 07, 2032
Duration	11,155 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`41976`

Grant Description

On July 16, 2001, the Chinese Government canceled RMB 113 million (about $13.66 million USD) of the Government of Kenya's outstanding debts.

This amount was reportedly equivalent to 55 percent of the Government of Kenya's total outstanding debt to the Chinese Government at the time. The agreement is called 关于免除肯尼亚政府部分债务的议定书 in Chinese. 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.