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Kenya signs Economic and Technical Cooperation Agreement loaning 480 million Ksh interest-free to Kenya in July 2010 (Linked to ETCA #44545)
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Kenya |
| Country | Kenya |
| Start Date | Jul 12, 2010 |
| End Date | Jan 11, 2033 |
| Duration | 8,219 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 1271 |
Grant Description
Kenya signs Economic and Technical Cooperation Agreement loaning 480 million Ksh interest-free to Kenya in July 2010 On July 12, 2010, a Chinese government official signed two economic and technical cooperation agreements (ETCA) with a total value of 960 million Ksh. This amount is split equally in the form of interest-free loans and grants.
This project captures the ETCA interest-free loan agreement equal to 480 million Ksh for unspecified development projects. The sub-projects are unknown. ETCA #44545 captures the grant portion equal to 480 million Ksh.
Staff Comments
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
- Country Now Receives Sh960 Million From China
- Development agenda boosted by China’s Sh960b loan, http://global.factiva.com/aa/?ref=AFNWS00020100713e67c00001&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.
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Government of Kenya
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