Completed Development AidData Chinese Aid

Chinese Government cancels RMB 345.8 million of Government of Mali’s outstanding debt obligations (Linked to Record ID#1513)

¥345.83M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Mali
Country	Mali
Start Date	Mar 29, 2007
End Date	Feb 07, 2032
Duration	9,081 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`58818`

Grant Description

On December 13, 2006, the Chinese Government and the Government of Mali signed an economic and technical cooperation agreement (ETCA), which referenced the cancellation of RMB 345,833,600 of Government of Mali outstanding debt obligations.

Then, on March 29, 2007, the Chinese Government and the Government of Mali signed a partial debt exemption protocol agreement.

On July 4, 2007, the two governments agreed upon bank account processing rules for the implementation of the debt forgiveness agreement.

📋 Staff Comments

The Chinese Government made a concerted effort in 2007 to forgive the debt from interest-free loans maturing by the end of 2005 to heavily-indebted African countries (http://kp.china-embassy.org/chn//zgxw/zgzxxw/t293317.htm). Since interest-free loans usually have 20-year maturities (http://www.gov.cn/zwgk/2011-04/21/content_1850553.htm), AidData assumes the loans included in this debt forgiveness package would have been contracted before 2000. As such, this project is not marked as an umbrella record as there is little risk of double counting.
As part of this same ETCA, The Government Government provided an RMB 30 million grant to the Government of Mali (as captured via Project ID#1513.

📚 Sources & References

中国、马里两国政府签署经济技术合作协定
二00七年双边协议
SAIS-CARI China's Debt Cancellation In Africa Database
China-Mali relationship: Finding mutual benefit between unequal partners
Coopération bilatérale:Le Ministre OUANE en Chine
中、马两国政府签署了三个经济合作文件
La Chine et le Mali signent un accord économique et technique 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.