Active Development AidData Chinese Aid

Chinese Government provides $6.5 million interest-free loan for unspecified purposes

$6.5M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of Mauritius
Country	Mauritius
Start Date	Feb 16, 2009
End Date	Nov 04, 2029
Duration	7,566 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`1157`

Grant Description

Chinese Government provides $6.5 million interest-free loan for unspecified purposes President of the People's Republic of China Hu Jintao made a historic visit to Mauritius on February 16, 2009, in which he pledged, among other things, to loan USD $6.5 million interest-free to the island nation. These deals were signed by Hu Jintao and Navinchandra Ramgoolam, the Mauritian Prime Minister.

The project financed with this amount has yet to be identified. The other two pledges made during this same visit are captured in #1156 and #1158.

📋 Staff Comments

This flow, along with the $5 million captured in #1158 and disbursed at the same time, could be part of a larger Economic and Technical Cooperation Agreement. Since loan terms for the interest-free loan are unavailable, AidData has set maturity period to 20-years by default and grace period to 10-years by default per China's Foreign Assistance White Paper (http://www.cidca.gov.cn/2018-08/06/c_129925064_3.htm) which states that the maturity period of interest-free loans is 20-years, with a drawdown period of 5-years, grace period of 5-years, and repayment over 10-years. AidData treats the drawdown period as providing 5-years of additional grace.

📚 Sources & References

http://global.factiva.com/aa/?ref=AFPR000020090217e52h005qx&pp=1&fcpil=en&napc=S&sa_from=
China signs $260m airport deal with Mauritius
Hu wraps up Africa tour with Mauritius deals 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.