Completed Development AidData Chinese Aid

Chinese Government cancels Government of Tonga’s outstanding loan balance for Ha‘apai High School Construction Project (Linked to Record ID#65772)

Funder	China Ministry of Commerce
Recipient Organization	Government of the Kingdom of Tonga
Country	Tonga
Start Date	Jan 01, 2016
End Date	Jul 13, 2032
Duration	6,038 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`65773`

Grant Description

📋 Loan / Grant Terms

📅 Maturity20 years

The loan is captured in Record ID#65772.

Then, on July 5, 2016, MOFCOM agreed (at least in principle) to cancel the Government of Tonga’s outstanding loan balance for the Ha‘apai High School Construction Project. The debt forgiveness agreement was finalized no later than December 2018.

The exact value of the write-off is unknown; however, in the document outlining Tonga's Financial and Compliance Audits in 2018-2019, it states that "The interest free loan...for Ha’apai High School Project was forgiven and therefore treated as a grant (Financial and Compliance Audit)." Additionally, the last time that the loan appeared in a Government of Tonga debt bulletin, it was identified as having an outstanding balance of TOP 5.9 million.

📋 Staff Comments

This project is marked as an umbrella projects to avoid double counting the amount from the original loan contracted in 2000 (Project ID#65772).

📚 Sources & References

China writes off loans for school rebuild
Annual Public Debt Bulletin (June 2015) 29 / 33
Financial and Compliance Audit
CHINA DECIDES TO WRITE OFF TONGA’S LOAN FOR THE RECONSTRUCTION OF HA’APAI HIGH SCHOOL 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 the Kingdom of Tonga

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