Chinese Government cancels $13 million of the Government of CAR’s outstanding debt obligations in 2021

$1.3M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of the Central African Republic
Country	Central African Republic
Start Date	Jan 22, 2021
End Date	Feb 27, 2029
Duration	2,958 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`93052`

Grant Description

On January 22, 2021, the Chinese Government and the Government of the Central African Republic (CAR) signed a debt forgiveness agreement.

China’s Ministry of Commerce (MOFCOM) agreed to agreed to cancel $13 million of the Government of CAR’s’ outstanding debt obligations.

These obligations resulted from one or more interest-free loans that the Government of CAR previously contracted, which were scheduled to mature before December 31, 2020.

📋 Staff Comments

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

📚 Sources & References

LA CHINE ANNULE LA DETTE DE LA REPUBLIQUE CENTRAFRICAINE A HAUTEUR DE 1,6 MILLIARDS FCFA, #Centrafrique La #chine annule les dettes centrafricaines
La chine annule les dettes centrafricaines
RCA: la Chine efface ses dettes et fait un don à l’armée 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.