Completed Mixed AidData Chinese Aid

China Eximbank provides RMB 363.8 million government concessional loan for Phase 1 of Equipment Purchases by Kenya's National Youth Service (Linked to Record ID#58154)

¥363.86M RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Kenya
Country	Kenya
Start Date	Dec 15, 2008
End Date	Aug 23, 2027
Duration	6,825 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`1278`

Grant Description

China Eximbank provides RMB 363.8 million government concessional loan for Phase 1 of Equipment Purchases by Kenya's National Youth Service On December 15, 2008, China Eximbank and the Government of Kenya signed an RMB 390 million government concessional loan (GCL) loan agreement [CHINA EXIMBANK No GCL 214] to facilitate equipment purchases by Kenya's National Youth Service.

The face value of the loan was subsequently revised to RMB 363,861,090.41.

📋 Loan / Grant Terms

💰 Loan Amountwere as follows: a 2% interest rate

📅 Maturity19.75 years

⏳ Grace Period8.25 years

💹 Interest Rate2%

The loan was scheduled for semi-annual repayments from March 21, 2016 to September 21, 2028.

The borrower made principal repayments worth RMB 14,554,443.50 between July 1, 2020 and June 30, 2021 and RMB 29,108,887.08 between July 1, 2021 and June 30, 2022.

The loan’s amount outstanding was RMB 247,425,540.98 as of June 30, 2020, RMB 218,316,653.80 as of June 30, 2021, and RMB 189,207,766.63 as of June 30, 2022.

On January 29, 2010, the equipment, worth of 4.3 billion KES ($57 million) and purchased through the China Aviation Industry Corporation, was delivered to Kenya's National Youth Service.

A total of 3942 items were delivered, including road construction and earth moving equipment, agricultural machinery, fire fighting engines, and generators, computers, radios, and other equipment.

📋 Staff Comments

In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it does not record the borrowing terms for this China Eximbank loan. AidData obtained the lending terms (2% interest rate, 7-year grace period, 20-year maturity) from the Government of Kenya's public debt register.
Whereas SAIS-CARI records the commitment year as 2010, AidData records the commitment year as 2008 because the loan agreement was finalized on October 28, 2008.
The Chinese project title is 肯尼亚青年服务队设备采购项目 or 肯尼亚工程机械项目.
The identification number for this China Eximbank loan in the Kenyan National Treasury’s external public debt register is 2008005.
The amounts outstanding and repayments data are drawn from the Kenyan Treasury’s External Public Debt Register. See https://www.dropbox.com/s/549ixt2gj1jbjvi/External-Public-Debt-Register-as-at-End-June-2022.pdf?dl=0 and https://www.dropbox.com/s/0et4jg1qfg1bo7r/External-Public-Debt-Register-as-at-End-June-2021.pdf?dl=0 and https://www.dropbox.com/s/233j706743q7f1g/External-Public-Debt-Register-as-at-End-June-2020.pdf?dl=0 and https://www.dropbox.com/s/qkoybr9ja0ohemy/External-Public-Debt-Register-as-at-End-June-2009.pdf?dl=0 and https://www.dropbox.com/s/thy3s6ggjcjd97z/External-Public-Debt-Register-as-at-End-June-2012.pdf?dl=0 and https://www.dropbox.com/s/fzbfq01vas6m0i9/External-Public-Debt-Register-as-at-End-June-2019.pdf?dl=0 and https://www.dropbox.com/s/ennrl6d4zd2nizs/External-Public-Debt-Register-as-at-End-June-2018.pdf?dl=0 and https://www.dropbox.com/s/8ibazrj1a8oho2d/External-Public-Debt-Register-as-at-End-June-2017.pdf?dl=0 and https://www.dropbox.com/s/wdbjl0wq49i09x1/External-Public-Debt-Register-as-at-End-June-2015.pdf?dl=06. Project ID#58154 captures the China Eximbank loan that supported Phase 2 of the project.

📚 Sources & References

http://www.youtube.com/watch?v=PsbB98wj78c
Kenya: China grants equipment to National Youth Service
Kenyan President Praises Chinese Assistance for Kenya
冬风中的启航——肯尼亚工程机械项目发运仪式报道
中肯签署肯尼亚青年服务队设备采购项目优惠贷款框架协议
Kenya National Assembly Official Record (Hansard)
驻肯尼亚大使邓洪波出席肯国家青年服务队工程机械设备采购项目交接仪式
NYS receives grant from China
十年磨一剑”的最佳诠释
External Public Debt Register 2012
External-Public-Debt-Register-as-at-End-June-2020.pdf
The National Treasury Public Debt Management Office Summary Statement 2021/2022
SUMMARY STATEMENT OF PUBLIC DEBT FOR 2020/2021FY IN FOREIGN CURRENCY 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.