Completed Development AidData Chinese Aid

Chinese Government cancels RMB 150 million of the Government of Zambia's outstanding debt obligations in 2019 (Linked to Record ID#56956)

¥150M RMB

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Zambia
Country	Zambia
Start Date	Jun 24, 2019
End Date	Sep 11, 2028
Duration	3,367 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`88356`

Grant Description

On July 2, 2007, the Chinese Ministry of Commerce signed an economic and technical cooperation agreement (ETCA) providing an RMB 150 million ($22 million) interest-free loan to the Government of Zambia (captured via Record ID#88732).

📋 Loan / Grant Terms

📅 Maturity20 years

⏳ Grace Period10 years

💹 Interest Rate0%

This loan was used to partially finance the Levy Mwanawasa (Ndola) Stadium Construction Project (see Record ID#56956 and #56960).

On June 24, 2019, the Chinese International Development Cooperation Agency (CIDCA) signed a debt forgiveness agreement cancelling the Government of Zambia's repayment obligations for the entirety of this RMB 150 million loan.

📋 Staff Comments

At the same signing ceremony, the Chinese Government also announced a $30 million grant to the Government of Zambia (see Project ID#88357).
This loan was contracted post-2000; therefore, to avoid double-counting, AidData has marked it as an ‘Umbrella’ project.

📚 Sources & References

Zambia: China gives $30 mln, writes off $22 mln debt
China writes off USD 22mn debt, grants USD 30mn – media report
Zambia: China gives $30 mln, writes off $22 mln debt
Chinese government writes off $22 million debt to ease Zambia’s debt burden
China mocks Zambia with $22m debt cancellation from $4 b debt
李杰大使会见赞比亚铜带省省长 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 Zambia

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