Active Development AidData Chinese Aid

Chinese Government cancels RMB 122.96 million of the Government of Cameroon’s outstanding debt obligations in 2021

¥122.96M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Cameroon
Country	Cameroon
Start Date	May 04, 2021
End Date	Nov 08, 2028
Duration	2,745 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`95420`

Grant Description

On May 4, 2021, the Chinese Government and the Government of Cameroon signed a debt forgiveness agreement.

China’s Ministry of Commerce (MOFCOM) agreed to cancel RMB 122,960,000 of the Government of Cameroon’s outstanding debt obligations.

These obligations resulted from three RMB 50 million interest-free loans that the Government of Cameroon previously contracted and that were scheduled to mature by December 31, 2020.

📋 Staff Comments

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

📚 Sources & References

Numero 04/21 de la Conjoncture mensuelle de la dette publique - Avril 2021_
Coopération économique: la Chine offre 25 milliards de F
Une amitié sincère
Endettement : la Chine épargne le Cameroun d’une créance d’environ 10 milliards FCFA
L a C h i n e c o n c r é t i s e s e s e n g a g e m e n t s v i s - à - v i s d u C a m e r o u n
Coopération : la Chine octroie 36 milliards de Fcfa au Cameroun
La Chine concrétise ses engagements vis-à-vis du Cameroun
GLOBAL DEBT RELIEF DASHBOARD 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.