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Chinese Government cancels R40 million of the Government of Lesotho’s outstanding obligations
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Lesotho |
| Country | Lesotho |
| Start Date | Dec 01, 2001 |
| End Date | Jul 24, 2031 |
| Duration | 10,827 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 913 |
Grant Description
In December 2001, the Chinese Government cancelled R40 million of the Government of Lesotho’s outstanding debt obligations.
The obligations resulted from interest-free loans that the Government of Lesotho previously contracted for the Lesotho National Convention Center Construction Project. These loans had reached their maturity dates by the end of 1999. The Lesotho National Convention Center Construction Project commenced in April 1996 and concluded in April 1999.
It was officially handed over to the Government of Lesotho on April 9, 1999.
It cost $20 million and was reportedly paid for in part with interest-free loans from the Chinese Government and funding from the Government of Lesotho. The Center has two auditoriums, four meeting rooms, a lobby, an exhibition room and a coffee bar.
Staff Comments
1. This debt forgiveness record is not coded as an umbrella record since the loan was contracted prior to 2000. As such, there is no risk of double counting.
Sources & References
- 商务部援外项目评估小组对援莱索托国家会议中心项目进行实地评估, http://www.trc.org.ls/events/events19.992.htm
- Debt Relief with Chinese Characteristics
- 中国同莱索托的关系
- China Lesotho Relations
- Bilateral Economic Cooperation
- 世界最大的国中国，被富国包围却未被吞并，5千万债务被我国免除
- 中国同莱索托的关系
- The Botha Bothe Industrial Park
- CHINA ELIMINATES SOME LESOTHO DEBT.
- Lesotho 2011 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 Lesotho
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