China provided $4.33 million debt forgiveness for government of Sri Lanka’s outstanding debt obligations

📋 Staff Comments

1. The Chinese name of the agreement is '中华人民共和国政府和斯里兰卡民主社会主义共和国政府关于免除斯里兰卡政府部分债务议定.'2. The loans forgiven through this action were almost certainly interest-free loans committed through previous ETCAs. As such, the loans likely had maturity lengths of 20-years and since they had reached maturity no later than 2005, they were almost certainly contracted prior to 2000. Therefore, AidData has not assigned this record to the umbrella category (as there is little risk of double counting the monetary value of the debts that were forgiven).'

📚 Sources & References

• China
• Sri Lanka issue Joint Communique to specify cooperation in all areas
• Managing the Public Debt
• 中华人民共和国政府和斯里兰卡民主 社会主义共和国政府联合公报
• 中国政府与斯里兰卡政府发表联合公报, 2005 Annual Report 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.