China and Madagascar sign four deals worth $78 million [UMBRELLA for #60823, #19609, #1005]

$78M USD

Funder	Unspecified Chinese Government Institution
Recipient Organization	Madagascar
Country	Madagascar
Start Date	Jan 01, 2007
End Date	May 12, 2031
Duration	8,897 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`999`

Grant Description

In July of 2007, four deals were signed for an approximate total of $78 million or about R557-million, following up on agreements made at the China-Africa summit in Beijing in November 2006.

According to Misa Irodia, director of bilateral cooperation at the ministry of foreign affairs, the deals cover "partial debt cancellation, an agreement on economic and technical cooperation, a preferential loan for the construction of a five-star hotel, and finally a deal for a donation of medicines."

📋 Staff Comments

Donation of medicines may be referring to the recurring donation of medical equipment, see project ID #19694.

📚 Sources & References

Madagascar
China sign deals worth $78 million
Republic of Madagascar: Enhanced Initiative for Heavily Indebted Poor Countries Completion Point Document, http://global.factiva.com/aa/?ref=LBA0000020070729e37t000j1&pp=1&fcpil=en&napc=S&sa_from= 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.