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China Eximbank suspends principal and interest payments under multiple loans -- via DSSI -- between May and December 2020

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Tajikistan
Country	Tajikistan
Start Date	Aug 05, 2020
End Date	Jul 04, 2027
Duration	2,524 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`96271`

Grant Description

On August 5, 2020, China Eximbank and the Government of Tajikistan signed a debt suspension agreement as part of the Debt Service Suspension Initiative (DSSI).

Under the terms of the agreement, the lender agreed to suspend principal and interest payments due between May and December 2020 under multiple loan agreements.

The total suspension amount was $39,267,000.00 ( $30,435,000.00 in principal payments and $8,832,000.00 in interest payments).

Then, in September 2020, Paris Club creditor countries agreed to provide to the Republic of Tajikistan a time-bound suspension of debt service due from May 1, 2020 to December 31, 2020.

📋 Staff Comments

1. According to information that the Government of Tajikistan provided to the World Bank through the Debtor Reporting System (DRS), the total suspension amount under the Government of Tajikistan’s August 2020 debt suspension agreement with China Eximbank was $39,267,000.00 ( $30,435,000.00 in principal payments and $8,832,000.00 in interest payments). See https://www.dropbox.com/scl/fi/shqo5w418nwvocuiibhn8/IDS-Principal-and-Interest-Amounts-Rescheduled-14-July-2024.xlsx?rlkey=6mka34nyg2qpwd7lvgfxz6x87&dl=0

📚 Sources & References

Tajikistan pleads for credit repayment relief
Tajikistan’s woes, and Chinese loans, pile up
Living in Debt: To Whom and How Much Does Tajikistan Owe?
Tajikistan Requests the Previous Loans’ Deferral and Simultaneously Applies for the New Ones
Tajikistan Economic Update – Fall 2020, Китай дает Кыргызстану шестилетнюю отсрочку на выплату долга. Что с долгом Таджикистана перед КНР?
JOINT IMF-WBG STAFF NOTE: DSSI FISCAL MONITORING UPDATE—SUPPLEMENTARY INFORMATION, 2021 ARTICLE IV CONSULTATION—PRESS RELEASE; STAFF REPORT; AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR THE REPUBLIC OF TAJIKISTAN
TAJIKISTAN BENEFITS FROM THE DEBT SERVICE SUSPENSION INITIATIVE
IDS Principal and Interest Amounts Rescheduled 14 July 2024
Tajikstan suspension 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.