Completed Development AidData Chinese Aid

Chinese Government partially cancels the Government of Mongolia’s outstanding obligations

$18M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of Mongolia
Country	Mongolia
Start Date	Jul 14, 2016
End Date	Feb 23, 2031
Duration	5,337 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`86277`

Grant Description

On July 14, 2016, the Chinese Government and the Government of Mongolia signed a debt exemption protocol, which cancelled $18 million (or approximately 38 billion MNT) of the Government of Mongolia’s outstanding obligations under previously contracted loans. The debt relief was from overdue debt in 1958 and 1960, as well as loans contracted in 1991, 1992, and 1994.

📋 Staff Comments

The Mongolian translation of the debt exemption protocol is Монгол Улсын Засгийн газрын өрийг чөлөөлөх тухай Монгол Улсын Засгийн газар, БНХАУ-ын Засгийн газар хоорондын хэлэлцээр.This debt forgiveness project is not marked as an umbrella project since the original loans were contracted before 2000, so there is no risk of double counting.

📚 Sources & References

Айлчлалын хүрээнд 15 баримт бичигт гарын үсэг зурлаа
THE PEOPLE'S REPUBLIC OF CHINA
Bilateral cooperation documents signed
China writes off Mongolia’s 38 billion MNT debt, БНХАУ-ын Засгийн газар Монгол Улсын Засгийн газрын их өрийг чөлөөлөв – Өнөөдөр 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 Mongolia

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