Chinese Government cancels $30 million of Government of Guinea-Bissau’s outstanding debt obligations

📋 Staff Comments

1. This debt cancellation is not included in the dataset of Chinese debt cancellations and restructurings released by SAIS-CARI in 2020.
2. The loans forgiven through this action were almost certainly interest-free loans committed through previous ETCAs. As such, the loans likely had maturity lengths of 20-years and since they had reached maturity no later than 2016, they were likely contracted prior to 2000. Therefore, AidData has not assigned this record to the umbrella category (as there is little risk of double counting the monetary value of the debts that were forgiven).

📚 Sources & References

• Forum Macau: China forgives $ 30 million of debt to Guinea-Bissau
• Guinea-Bissau wastes opportunities for cooperation with China in 2016
• SAIS-CARI China's Debt Cancellation In Africa Database
• CHINA PERDOA DÍVIDAS E FAZ DOAÇÕES À GUINÉ-BISSAU E CABO VERDE
• China perdoa 30 milhoes de euros a Guine-Bissau e apoia o OGE com 15 milhoes 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.