Chinese Government cancels RMB 80 million of Government of Benin's outstanding debt obligations

¥80M RMB

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Benin
Country	Benin
Start Date	Sep 20, 2011
End Date	Dec 13, 2028
Duration	6,294 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59346`

Grant Description

On September 20, 2011, President Thomas Boni Yayi of Benin announced that the Chinese Government agreed to cancel an RMB 80 million outstanding debt obligation of the Government of Benin.

📋 Staff Comments

The loans forgiven through this action were almost certainly interest-free loans committed through previous ETCAs. As such, the loans likely had maturity lengths of 20-years and since they had reached maturity no later than 2011, they were almost certainly contracted prior to 2000. Therefore, AidData has not assigned this record to the umbrella category (as there is little risk of double counting the monetary value of the debts that were forgiven).

📚 Sources & References

Séjour du Président Yayi Boni en Chine: Plus de 14 milliards décrochés pour le Bénin
China gives Benin $34m in loans, grants
SAIS-CARI China's Debt Cancellation In Africa Database
Debt Relief with Chinese Characteristics, 《中国与非洲经贸合作(2013)白皮书》(全文))
中国的对外援助(2014)
受权发布：中国与非洲的经贸合作（2013) 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.