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Chinese Government cancels $18.5 million of Government of Ethiopia's outstanding debt obligations
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Ethiopia |
| Country | Ethiopia |
| Start Date | May 25, 2007 |
| End Date | Jul 27, 2028 |
| Duration | 7,734 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 961 |
Grant Description
On May 25, 2007, Ethiopia and China signed a debt relief agreement for $18.5 million. China agreed to forgive all of the interest-free loans that Ethiopia that matured by the end of 2005.
The agreement was signed by Mekonen Manyazewal, state minister of finance and economic development, and China's Assistant Minister of Commerce Wang Chao.
It was stated on the occasion that the money drawn from the debt relief would be used to finance poverty reduction program in Ethiopia.
Staff Comments
Project is not marked as umbrella since the dataset would likely not capture loans that have matured by 2005, so there is little risk of double counting.
Sources & References
- Ethiopia
- China sign 18.5 million dollar debt relief agreement
- China and Ethiopia: Authoritarian Affinities and Economic Cooperation
- 中国与埃塞签定关于免除埃塞俄比亚部分债务的议定书
- 中国驻埃塞俄比亚使馆举行纪念中非合作论坛北京峰会一周年记者冷餐会
- 中国与埃塞俄比亚合作交流续写新篇
- SAIS-CARI China's Debt Cancellation In Africa Database*, http://global.factiva.com/aa/?ref=XNEWS00020070525e35p008et&pp=1&fcpil=en&napc=S&sa_from=
- Debt Relief with Chinese Characteristics
- How China delivers development assistance to Africa 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.
All Grantees
Government of Ethiopia
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