Active Development AidData Chinese Aid

Chinese Government reschedules $94 million of Government of Myanmar’s outstanding repayment obligations

Funder	Unspecified Chinese Government Institution
Recipient Organization	Myanmar Ministry of Finance and Revenue
Country	Myanmar
Start Date	Jan 01, 2004
End Date	Nov 03, 2028
Duration	9,073 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`64645`

Grant Description

In March 2004, during Chinese Vice Premier Wu Yi's visit to Rangoon, the Chinese Government pledged to reschedule $120 million in overdue debts from the Government of Myanmar.

Then, in August 2004, China Export & Credit Insurance Corporation (Sinosure) and the Myanmar Ministry of Finance & Revenue signed a debt rescheduling agreement for a $94 million loan. The loan's original maturity date was November 1, 1999. However, Sinosure reportedly extended an additional two-year grace period, which started on July 1, 2004.

📋 Staff Comments

1. AidData was not able to retrieve the original or revised borrowing terms of the loans that were originally schedules to reach maturity in 1999, beyond the grace period adjustments. As such, the flow class field has been set to 'Vague (Official Finance)'.

📚 Sources & References

BURMESE PRIME MINISTER'S AGENDA IN CHINA
BURMESE PRIME MINISTER KHIN NYUNT: CHINA FREQUENT FLYER
中缅政治经济关系的发展、现状及其意义
贸易促进中国政治力量增强美国盟友心猿意马
Modern China-Myanmar Relations Dilemma of Mutual Dependence, 6: Myanmar’s economic relations with China: who benefits and who pays? 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.