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Chinese Government cancels RMB 20 million of Government of Sierra Leone’s outstanding debt obligations
| Funder | Unspecified Chinese Government Institution |
|---|---|
| Recipient Organization | Government of Sierra Leone |
| Country | Sierra Leone |
| Start Date | Dec 01, 2016 |
| End Date | Jan 08, 2030 |
| Duration | 4,786 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 62820 |
Grant Description
In December 2016, during his visit to China, Sierra Leone's Minister of Finance and Economic Development, Momodu Kargbom signed a debt exemption agreement with the Chinese Government.
China’s Ministry of Commerce reportedly cancelled an outstanding debt obligation worth RMB 20 million, which resulted from an interest-free loan that the Government of Sierra Leone had previously contracted.
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 2016, 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
- Op-ed: The 'October' Family Meetings of CPC and APC: Sharing a Good Purpose of Political Leadership
- SIERRA LEONE SIGNS SIX COOPERATION AGREEMENTS WITH CHINA
- Debt Relief with Chinese Characteristics
- SAIS-CARI China's Debt Cancellation In Africa Database
- 对外投资合作国别（地区）指南-塞拉利昂
- 习近平同塞拉利昂总统科罗马举行会谈
- Sierra Leone Signs Six Cooperation Agreements with China 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.
All Grantees
Government of Sierra Leone
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