Chinese Government cancels RMB 16 million of the Government of Togo’s outstanding debt obligations in 2022

¥16M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Togo
Country	Togo
Start Date	Jun 01, 2022
End Date	Jan 28, 2027
Duration	1,702 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`95455`

Grant Description

In June 2022, the Chinese Government and the Government of Togo signed a debt forgiveness agreement.

China’s Ministry of Commerce (MOFCOM) agreed to agreed to cancel RMB 16 million of the Government of Togo’s outstanding debt obligations.

These obligations resulted from an interest-free loan that the Government of Togo had previously contracted and that was set to mature by December 31, 2021.

📋 Staff Comments

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

📚 Sources & References

China cancels around CFA1.5 billion of Togo’s debt
Pour la Patrie L'UNION 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.