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Chinese Government forgives RMB 49.2 million of Lao Government’s outstanding obligations
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Laos |
| Country | Lao People's Democratic Republic |
| Start Date | Jun 12, 2003 |
| End Date | Jun 19, 2032 |
| Duration | 10,600 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 64229 |
Grant Description
On June 12, 2003, Chinese Government and the Government of Laos signed a partial debt exemption agreement (《中国政府免除截至2004年底老挝政府对华到期无息贷款债务议定书》).
Under the terms of this agreement, the Chinese Government agreed to cancel the Government of Laos’ outstanding debt obligations related to 3 interest-free loans.
The Government of Laos contracted these loans between 1974 and 1997 and all of the loans had reached their repayment periods by December 2001. The value of the Lao Government’s outstanding debt obligations was RMB 49.2 million.
The exempted repayment obligations were related to the amounts drawn down under (1) an interest-free loan worth RMB 50 million that was contracted on October 3, 1974; (2) an interest-free loan worth RMB 45 million that was contracted on March 18, 1976; (3) an interest-free loan worth RMB 4 million that was contracted on October 28, 1977.
The full text of the loan that was contracted on March 18, 1976 can be accessed at https://www.dropbox.com/s/pmfktau027zv7ad/1531876509781.pdf?dl=0
Staff Comments
This debt forgiveness project is not marked as umbrella as the loans were contracted prior to 2000, so there is no risk of double counting.
Sources & References
- Assessment and Prospect of China-Laos Development Cooperation
- 中华人民共和国政府和老挝人民民主共和国政府关于免除老挝人民民主共和国政府部分债务的议定书
- 中国和老挝20日在万象发表中老联合声明(全文)
- 中国老挝发表联合声明
- 吴邦国、温家宝分别会见老挝国家主席坎代
- 中华人民共和国政府和老挝人民民主共和国政府关于免…债务的议定书.pdf
- 中华人民共和国政府和老挝人民民主共和国政府关于经济技术合作协定
- 中 老 联 合 声 明
- 中华人民共和国政府和老挝人民民主共和国政府关于免除老挝人民民主共和国政府部分债务的议定书 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 Laos
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