Completed Development AidData Chinese Aid

Chinese Government cancels $34 million of the Government of Cameroon's outstanding obligations

$34M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of Cameroon
Country	Cameroon
Start Date	Nov 01, 2001
End Date	Sep 30, 2027
Duration	9,464 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59048`

Grant Description

In November 2001, the People's Republic of China signed a partial debt cancellation agreement with the Government of Cameroon.

Several sources identify $34 million as the total value of the debt forgiveness; however, the World Bank and the IMF identify the cancellation amount as $20.4 million in net present value (NPV) terms.

📋 Staff Comments

The transaction amount is coded as $34 million for the time being due to the number of sources that identify it as the transaction amount. This project is not marked as umbrella because we do not capture any loan projects in Cameroon prior to 2007, so there is no risk of double-counting.

📚 Sources & References

Cameroon Enhanced Heavily Indebted Poor Countries (HIPC) Initiative Completion Point Document and Multilateral Debt Relief Initiative (MDRI)
China-Africa economic relations: The case of Cameroon
Mapping Chinese Development Assistance in Africa
SAIS-CARI China's Debt Cancellation In Africa Database*
China–Cameroon relations: Fortunes and limits of an old political complicity
Yaounde
Cameroon: Review of the Staff-Monitored Program and Request for a Three-Year Arrangement under the Poverty Reduction and Growth Facility, and for Additional Interim Assistance under the Enhanced Heavily Indebted Poor Countries Initiative
China–Cameroon relations: Fortunes and limits of an old political complicity
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.