Active Development AidData Chinese Aid

Chinese Government cancels Government of Ethiopia’s outstanding debt obligations under interest-free loans maturing by end-of-2018

Funder	China Ministry of Commerce
Recipient Organization	Government of Ethiopia
Country	Ethiopia
Start Date	Apr 25, 2019
End Date	Nov 24, 2030
Duration	4,231 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`72284`

Grant Description

On April 25, 2019, the Chinese Government and the Government of Ethiopia signed a debt forgiveness agreement.

China’s Ministry of Commerce (MOFCOM) agreed to agreed to cancel Government of Ethiopia’s outstanding debt obligations under interest-free loans that it previously contracted and that were schedule to reach maturity by December 31, 2018. The monetary value of the debts that were forgiven is unknown.

📋 Staff Comments

1. This record is marked as an umbrella record because the (cancelled) interest-free loans were potentially contracted after calendar year 2000, which presents a risk of double-counting.

📚 Sources & References

Lender’s remorse? China finds Africa projects require a growing wave of debt forgiveness
SAIS-CARI China's Debt Cancellation In Africa Database*
Country signs USD 1.8bn investment agreement with China
NEWS: CHINA’S REPRIEVE ON INTEREST-FREE LOAN ONLY
News: China’s reprieve on interest-free loan only
China cancels interest-free loans matured till end of 2018
China cancels Ethiopia's interest-free loans
PM in Beijing for forum 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.