Completed Development AidData Chinese Aid

Chinese Government cancels RMB 52.9 million of the Government of Botswana’s outstanding debt obligations (Linked to Record ID#23)

¥52.99M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Botswana
Country	Botswana
Start Date	Aug 22, 2018
End Date	Apr 23, 2027
Duration	3,166 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`58337`

Grant Description

On August 22, 2018, the Chinese Government and the Government of Botswana signed a debt exemption protocol, which cancelled RMB 52,993,400 of the Government of Botswana’s outstanding debt obligations.

These debt obligations resulted from three interest-free loans that the Government of Botswana previously contracted: one for a Railway Rehabilitation Project and two for a Multi-Purpose Youth Center Construction Project (captured via Record ID#23).

Botswana’s Minister of Finance and Economic Development Kenneth Matambo and China’s Ambassador to Botswana Zhao Yanbo signed the agreement.

📋 Staff Comments

As this debt forgiveness project involves a loan contracted during the 2000-2017 period, AidData designates it as an umbrella project to avoid double counting.

📚 Sources & References

PRESS RELEASE
The tide is turning as Botswana turns to Chinese for soft loans
China Extended Botswana’s Loan for Rail and Road Constructions
Botswana says China agreed to extend loan, cancel debt
China writes off loans
China’s debt write off a friendly gesture to Botswana
Debt Relief with Chinese Characteristics, and also an Agreement on Economic and Technical Cooperation for a Grant amounting to RMB ¥200 million which will be signed during the upcoming FOCAC Summit in September 2018 in China.
CHINA WRITES OFF LOANS
PRESS RELEASE - BOTSWANA EXEMPTED FROM PAYMENT OF THREE INTEREST FREE LOANS., [Botswana] China writes off loans
Today I signed a Protocol on Exemption of Interest-free Loan Debt
In a Mostly Symbolic Move
China Relieves Botswana of Its Interest-Free Debt
博茨瓦纳总统报喜：中国同意免债、提供贷款和补助金
Economic Review - third quarter july-september 2018
Botswana says China agreed to extend loan and cancel debt
Botswana Exempted from Payment of Three Interest Free Loans 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.