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Chinese Government cancels RMB 78 million of the Government of Mauritius’ outstanding debt obligations (Linked to Record ID#67748)
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Mauritius |
| Country | Mauritius |
| Start Date | Jun 20, 2019 |
| End Date | Mar 21, 2027 |
| Duration | 2,831 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 67750 |
Grant Description
On June 20, 2019, the Chinese Government and the Government of Mauritius signed a debt forgiveness agreement.
The Chinese Government agreed to agreed to cancel RMB 78 million (Rs 400 million) of the Government of Mauritius’ outstanding debt obligations. These obligations resulted from an interest-free loan that the Government of Mauritius had previously contracted.
The agreement signing ceremony took place at the Treasury Building in Port Louis, Mauritius in the presence of the Prime Minister, Minister of Home Affairs, External Communications and National Development Unit, Minister of Finance and Economic Development, Mr. Pravind Jugnauth.
The agreement signatories were the Financial Secretary of the Ministry of Finance and Economic Development, Dev Manraj, and the Ambassador of the People’s Republic of China to Mauritius, Sun Gongyi.
Staff Comments
- At the same ceremony on June 20, 2019, an RMB 100 million grant was given by the Chinese Government to the Government of Mauritius for a Bus Modernization Project (as captured via Project ID#67748).
- This record is marked as an umbrella record because it is likely that the interest-free loan was contracted on or after calendar year 2000, which poses a risk of double-counting.
Sources & References
- ANNUAL REPORT 2018-19
- Mauritius-China: Signing of grant agreement and protocol for partial annulation of debt
- Signing of Grant Agreement and Protocol for Partial annulation of Debt Between China and Mauritius
- Signing of grant agreement and protocol for partial annulation of debt
- 中毛两国政府签署经济技术合作协定及免除毛方部分到期未偿还债务议定书 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 Mauritius
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