Completed Development AidData Chinese Aid

Chinese Government cancels RMB 627.6 million of the Government of Cambodia’s outstanding obligations

¥627.6K RMB

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Cambodia
Country	Cambodia
Start Date	Oct 14, 2016
End Date	Mar 18, 2027
Duration	3,807 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`62903`

Grant Description

On October 14, 2016, when Chinese President Xi Jinping visited Cambodia, the Chinese Government canceled RMB 627,620,000 of the Government of Cambodia’s total outstanding debt obligations.

These obligations were related to previously contracted loans that were slated to reach maturity before the end of 2015.

📋 Staff Comments

1. The loans forgiven through this action were almost certainly interest-free loans committed through previous ETCAs that were signed by the two governments. As such, the loans likely had maturity lengths of 20-years and since they had reached maturity by 2015, they were likely 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

Joint Statement
Cambodian Public Debt Statistical Bulletin
数一数中柬多领域合作的“那些事
中华人民共和国和柬埔寨王国联合声明
中华人民共和国和柬埔寨王国联合声明
习近平会见柬埔寨首相洪森：发表联合声明签署31份合作文件
中国将免除柬埔寨6亿元债务
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中华人民共和国和柬埔寨王国联合声明
中华人民共和国和柬埔寨王国联合声明
Joint Statement
Chinese loans to Cambodia spark sharp words between government, opposition 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.