Loading grant details…
China Eximbank provides RMB 489 million loan for Aircraft Purchase for International Operation Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Ethiopia |
| Country | Ethiopia |
| Start Date | Jan 01, 2014 |
| End Date | Mar 09, 2031 |
| Duration | 6,276 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 105890 |
Grant Description
China Eximbank provides RMB 489 million loan for Aircraft Purchase for International Operation Project In 2014, China Eximbank and the Government of Ethiopia signed an RMB 489,000,000 government concessional loan (GCL) agreement for the Aircraft Purchase for International Operation Project.
However, it is known that the borrower was expected to use the proceeds of the loan to finance the acquisition of aircraft for international operation. The project’s precise commencement and completion dates are unknown.
However, it is known that the project reached completion in 2014 and Ethiopian Airlines launched its first direct flight to Shanghai on March 29, 2014
Staff Comments
- This project is also known as the Air Craft Purchase for International Operation Project.
- The borrowing terms of the GCL are unknown. For the time being, AidData assumes that China Eximbank standard GCL borrowing terms (20-year maturities, 5-year grace periods, 2% interest rates) apply. This issue warrants further investigation.
- This China Eximbank loan was not included in the database of Chinese loan commitments that SAIS-CARI released in 2020 and re-released in 2021. Nor was it included it in the Chinese Loans to Africa (CLA) Database — that is maintained by Boston University's Global Development Policy Center — as of September 2024.
- Ethiopian Airlines is a wholly state-owned company. It is the is state-owned flag carrier of Ethiopia.
- More research is needed to determine if the Government of Ethiopia on-lent the proceeds of the loan to Ethiopian Airlines.
Sources & References
- Ethiopian Launches First Direct Flight Between Shanghai and Africa
- List of Ethiopia- China Cooperation Major Projects from Ethiopia's Ministry of Finance September 2024 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
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 GrantQuick Summary
Related Grants
