Active Development AidData Chinese Aid

MOFCOM reschedules RMB 50 million interest-free loan via maturity and grace period extensions

Funder	China Ministry of Commerce
Recipient Organization	Addis Ababa City Administration
Country	Ethiopia
Start Date	Aug 01, 2023
End Date	Oct 11, 2026
Duration	1,167 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`105687`

Grant Description

On December 15, 2003, China's Ministry of Commerce (MOFCOM) and the Government of Ethiopia's Ministry of Finance and Economic Development (MOFED) signed an RMB 50 million loan agreement for unspecified purposes.

📋 Loan / Grant Terms

💰 Loan Amountcarried a 21

📅 Maturity21.5 years

⏳ Grace Period10 years

💹 Interest Rate0%

The proceeds of the loan were on-lent by MOFED to the Addis Ababa City Administration.

The loan was eventually rescheduled, such that the borrower was responsible for making ten, equal, consecutive, annual principal payments between December 31, 2028 and June 30, 2038.

📋 Staff Comments

The loan identification number in the Government of Ethiopia’s Debt Management and Financial Analysis System (DMFAS) is 20723000 and the corresponding project name in DMFAS is ‘CHINA GOVERT LOAN 2003/No.10’. See https://www.dropbox.com/scl/fi/je0aon75miofi6mt4q5q9/MOFED-Loan-Level-Data-on-Borrowing-Terms-and-Loan-Performance-September-2024_PUBLIC.xlsx?rlkey=murbb074v1px7g4njt0utzxnf&dl=0.
The Addis Ababa City Administration is a government executive organ of Addis Ababa, the capital of Ethiopia. It is governed by mayor.
The precise date on which the debt rescheduling agreement was signed is unknown. For the time being, AidData assumes that it was signed at the same time that the Government of Ethiopia signed an August 2023 debt rescheduling agreement with China Eximbank. This issue merits further investigation.

📚 Sources & References

MOFED Loan-Level Data on Borrowing Terms and Loan Performance September 2024_PUBLIC 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

Addis Ababa City Administration

Interested in applying for this grant?

Complete our application form to express your interest and we'll guide you through the process.

Apply for This Grant