Active Development AidData Chinese Aid

Chinese Government cancels RMB 40 million of the Government of Rwanda’s outstanding debt obligations in 2021

¥40M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Rwanda
Country	Rwanda
Start Date	Feb 19, 2021
End Date	Aug 14, 2032
Duration	4,194 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`92442`

Grant Description

On February 19, 2021, the Chinese Government and the Government of Rwanda signed a debt cancellation agreement.

The agreement was signed by Uzziel Ndagijimana, the Minister of Finance and Economic Planning on behalf of the Government of Rwanda, and Rao Hongwei, the Ambassador of the People’s Republic of China to Rwanda.

China’s Ministry of Commerce (MOFCOM) agreed to cancel RMB 40 million ($6 million) of the Government of Rwanda’s outstanding debt obligations. These obligations resulted from an interest-free loan that the Government of Rwanda had previously contracted.

📋 Staff Comments

1. This record has been marked as umbrella to avoid double counting

📚 Sources & References

RWANDA AND CHINA SIGN US$ 60 MILLION GRANT AND US$ 6 MILLION DEBT EXEMPTION
China and Rwanda Sign $60million Grant
Agree 6million $6 million Debt Cancellation.
China as export destination for Africa
Global Debt Relief Dashboard
China cancels $6 million debt to Rwanda, offers extra grants
China cancels $6bn debt to Rwanda
THE REPUBLIC OF RWANDA U.S.$620,000,000 5.500 per cent. Notes due 2031 Issue Price: 100 per cent.
China cancels $6 million debt to Rwanda, offers extra grants
Tweet by IGIHE 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.

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Government of Rwanda

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