Chinese Government cancels RMB 82,850,000 of the Government of the Gambia’s outstanding debt obligations

¥82.85M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Gambia
Country	Gambia
Start Date	Aug 02, 2017
End Date	Feb 21, 2026
Duration	3,125 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`56907`

Grant Description

In August 2017, the Chinese Government and the Government of The Gambia signed a debt exemption protocol.

Under the terms of this agreement, the Chinese Government agreed to cancel some of the Government of the Gambia’s outstanding debt obligations (worth RMB 82,850,000).

These obligations resulted from four interest free-loans that the Government of The Gambia contracted between 1975 and 1991. All of these loans reach maturity by December 31, 2015.

📋 Staff Comments

This project is not marked as umbrella since the loans being forgiven were contracted prior to 2000, so there is no risk of double counting.

📚 Sources & References

SECOND REVIEW UNDER THE STAFF - MONITORED PROGRAM — PRESS RELEASE AND ST AFF REPORT FOR THE GAMBIA
Gambia
China Sign Agreement on Consultation Mechanism
Gambia
China Sign Agreement on Consultation Mechanism
SAIS-CARI China's Debt Cancellation In Africa Database* 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.