Chinese Government cancels VUV 407 million of the Government of Vanuatu’s outstanding obligations

$407M USD

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Vanuatu
Country	Vanuatu
Start Date	Jan 01, 2005
End Date	Sep 28, 2031
Duration	9,766 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`62570`

Grant Description

In 2005, the Chinese Government cancelled VUV 407 million of the Government of Vanuatu’s outstanding debt obligations related to one or more loans that it had previously contracted.

📋 Staff Comments

It is unclear which specific debts were forgiven. However, they were likely related to the loans that the Government of Vanuatu contracted in the 1980s and 1990s for the construction of a parliamentary complex and the construction of University of South Pacific Law School. This issue merits further investigation.

📚 Sources & References

Financial Statements of the Government of The Republic of Vanuatu 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.