Completed Development AidData Chinese Aid

Chinese Government cancels RMB 239.26 million of the Government of Mozambique’s outstanding debt obligations

¥36.17M RMB

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Mozambique
Country	Mozambique
Start Date	Oct 26, 2017
End Date	Feb 26, 2032
Duration	5,236 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`53167`

Grant Description

On October 26, 2017, Mozambique's Deputy Minister of Foreign Affairs and Cooperation, Nyeleti Mondlane, and the Chinese Ambassador to Mozambique, Su Jian signed an agreement on the partial cancellation of the Government of Mozambique outstanding debt obligations to the Chinese Government.

The Chinese Government reportedly cancelled the Government of Mozambique’s outstanding debt obligations by RMB 239.26 million (or approximately $36,166,400).

These obligations resulted from four interest-free loans that the Government of Mozambique previously contracted with the Chinese Government.

📋 Staff Comments

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 2017, 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

China has agreed to write off Mozambique’s $36 million debt in a deal formalized in Maputo on Thursday.
China forgives $ 36 million of Mozambique's debt exceeding $ 2 trillion
China writes off $36m Mozambican debt
CHINA CANCELS PART OF MOZAMBIQUE’S DEBT
Debt Relief with Chinese Characteristics
Dívida com a China parcialmente perdoada
China announces pardoning of Mozambican debt
More on China cancelling part of Mozambique’s debt – AIM
China writes off $36m Mozambican debt
Mozambique and China are working together to consolidate cooperation, says Deputy Minister Mondlane
Vice-Ministra Mondlane assina Troca de Notas para abertura de 200 furos de água
China
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