Completed Development AidData Chinese Aid

Chinese Government cancels 5.5 billion CAF of the Government of CAR’s outstanding debt obligations

$5.5M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of the Central African Republic
Country	Central African Republic
Start Date	Jan 05, 2007
End Date	Jul 14, 2027
Duration	7,495 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`55460`

Grant Description

On January 5, 2007, the Chinese Government and the Government of Central African Republic (CAR) signed an agreement, which cancelled 5.5 billion CAF (approximately $11 million) of the Government of CAR’s outstanding debt obligations.

President of the Central African Republic (CAR) Francois Bozize and Chinese Foreign Minister Li Zhaoxing both signed the agreement.

These debt obligations resulted from two previously contracted loans that had reached their maturity dates by the end of December 2005.

This debt cancellation reportedly represents 29% of the nominal value of the Central African Republic’s outstanding debt obligations to China.

📋 Staff Comments

1. This loan forgiveness project is not marked as umbrella because any loans captured elsewhere in the dataset would be unlikely to have matured by 2005, so there is little risk of double counting.

📚 Sources & References

President of the Central African Republic (CAR) Bozize Meets with Foreign Minister Li Zhaoxing Chinese Embassy in the Central African Republic
China agrees to forgive Central African Republic debt / China gives CAR $15 mln debt relief, aid / China's FM in Central African Republic, continues African offensive
China denies checkbook diplomacy in Africa
Chinese foreign minister visits Central African Republic - radio
中非共和国总统博齐泽会见中国外长李肇星
Chinese Foreign Minister in Central African Republic Visit
Central African Republic: Enhanced Initiative for Heavily Indebted Poor Countries— Completion Point Document and Multilateral Debt Relief Initiative
Debt Relief with Chinese Characteristics
La Chine signe trois accords de coopération avec la RCA
La Chine signe trois accords de coopération avec la RCA
Chinese Loans to Africa Database
李肇星外长访问中非签署三项经贸合作协议
Examining the Debt Implications of the Belt and Road Initiative from a Policy Perspective 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.

All Grantees

Government of the Central African Republic

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