Active Development AidData Chinese Aid

Chinese Government commits RMB 30 million interest-free loan for Green Scheme Project (linked to Record ID#s #43675 and umbrella Record ID#62351)

¥30M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Namibia
Country	Namibia
Start Date	Feb 05, 2007
End Date	May 10, 2029
Duration	8,130 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`1315`

Grant Description

Chinese Government commits RMB 30 million interest-free loan for Green Scheme Project On February 5, 2007, President Hu Jintao agreed to provide an RMB 30 million interest-free loan to the Government of Namibia for the Green Scheme Project.

The Green Scheme Project is a national initiative to develop irrigation-based, agronomic production, seeking to maximize agricultural output through efficient water usage. Another goal of the project is to increase large-scale commercial crop production in Namibia.

Also on this date, President Hu Jintao agreed to provide an RMB 30 million grant for the Green Scheme Project, which is recorded in the linked Record ID#43675.

At the same official visit to Namibia, President Hu Jintao also pledged to provide several other financial flows (recorded in the umbrella Record ID#62351). It is unclear if these projects were financed under an ETCA agreement.

📋 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

Chinese Visit Yields Millions
Country Strategy Paper 2009-2013
Outline of the Speech by H.E. Ren Xiaoping
Ambassador of the People's Republic of China to the Republic of Namibia at the Signing Ceremony of the Agreement on the Economic and Technical Cooperation
Interpretation of China-Namibia Relations
Namibia and China: Profile and appraisal of a relationship
CHINA–AFRICA ECONOMIC RELATIONS: THE CASE OF NAMIBIA 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.