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Chinese Government cancels RMB 50 million of the Government of Angola’s outstanding obligations
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Angola |
| Country | Angola |
| Start Date | Jun 05, 2017 |
| End Date | Feb 22, 2028 |
| Duration | 3,914 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 67507 |
Grant Description
On 5 June 2017, the Chinese Government and the Government of Angola signed a partial debt exemption protocol cancelling RMB 50 million of the Government of Angola’s outstanding obligations.
These debts resulted from two RMB 50 million interest-fee loans that the Government of Angola previously contracted — via economic and technical cooperation agreements (ETCAs) — in May 2001 and December 2002. It is unclear how much from each loan was forgiven.
The Government of Angola only used RMB 97,370,000 of the total RMB 100,000,000 that was committed through these two loans.
The procedures for debt forgiveness were carried out by China Development Bank (CDB), the National Bank of Angola, and Angola’s Ministry of Finance.
Sources & References
- China forgives part of Angola's Debt
- China perdoa parte da dívida de Angola
- 安哥拉官媒称中方已同意免除其部分贷款 外交部回应
- SAIS-CARI China's Debt Cancellation In Africa Database*
- 中国驻安哥拉大使崔爱民在中国—安哥拉投资论坛开幕式上的讲话
- La Chine accorde une remise de deux dettes à l'Angola
- Debt Relief with Chinese Characteristics
- 中国豁免安哥拉5000万人民币的债务 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 Angola
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