Chinese Government forgives RMB 250 million of Government of Ghana’s outstanding debt obligations

¥250M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Ghana
Country	Ghana
Start Date	Nov 11, 2019
End Date	May 28, 2032
Duration	4,582 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`66991`

Grant Description

On November 11, 2019, Ghana’s Vice President Mahamudu Bawumia announced that the Chinese Government had cancelled RMB 250 million of the Government of Ghana’s outstanding debt obligations. It is unclear why these debt obligations were originally contracted by the Government of Ghana.

📚 Sources & References

Chinese government cancels 250 million Yuan Ghana debt
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China’s $2 billion deal with Ghana sparks fears over debt, influence and the environment
China Writes Off Ghana’s Debt, 2019 Government of Ghana Bond Prospectus
On Monday, 11th November 2019
I led government delegation for bilateral talks with a Chinese delegation led by H.E Sun Chunlan 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.