Chinese Government cancels RMB 150 million of the Government of Guinea’s outstanding debt obligations in 2021

¥150M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Guinea
Country	Guinea
Start Date	Feb 01, 2021
End Date	Jan 05, 2030
Duration	3,260 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`95555`

Grant Description

In February 2021, the Chinese Government and the Government of Guinea signed a debt forgiveness agreement.

China’s Ministry of Commerce (MOFCOM) agreed to cancel RMB 150 million of the Government of Guinea’s outstanding debt obligations. These obligations resulted from an interest-free loan that the Government of Guinea had contracted in 2005.

📋 Staff Comments

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

📚 Sources & References

CONSULTATIONS DE 2021 AU TITRE DE L’ARTICLE IV — COMMUNIQUE DE PRESSE
RAPPORT DES SERVICES DU FMI
ANNEXE D’INFORMATION
ANALYSE DE VIABILITE DE LA DETTE ET DECLARATION DE L’ADMINISTRATEUR POUR LA GUINEE
Guinea: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guinea
La Chine procède à l’annulation d’une dette de 23 millions de dollars pour la Guinée 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.