Active Development AidData Chinese Aid

China signs Economic and Technical Cooperation Agreement loaning $5 million USD interest-free to Liberia (Linked to Record ID#1589)

$5M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of Liberia
Country	Liberia
Start Date	Jan 16, 2006
End Date	Jul 31, 2028
Duration	8,232 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`1603`

Grant Description

China signs Economic and Technical Cooperation Agreement loaning $5 million USD interest-free to Liberia On January 16, 2006, China's Foreign Minister Li Zhaoxing and Liberia's Vice-President Joseph Boakai signed two economic and technical cooperation agreements.

One of these ETCAs loaned $5 million USD interest-free to Liberia in which disbursements began 1 February 2006 and repayments would begin in 2021.

Another international media report confirmed that this money was earmarked for the Samuel Kanyon Doe Sports Complex (#1589) and other unspecified projects.

📋 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

http://business.highbeam.com/3548/article-1G1-141099131/chinese-govt-provides-us-25m-assistance
China gives Liberia 25m-dollar loan for reconstruction, http://www.irinnews.org/printreport.aspx?reportid=57869
Chinese Government and Liberian Government Sign Economic and Technical Cooperation Agreement
China gives 7.5 million dollars in aid, loans to Liberia
Government of Liberia Financial Statements of the Consolidated Fund Account Fiscal Year 2019/2020
Financial Statement of the Consolidated Fund Account Quarter Two Fiscal Year 2018/2019
AGs-Report-on-the-Financial-Statement-Audit-of-Consolidated-Fund-Account-for-Fiscal-period-July-1-2017-to-June-30-2018
SKD Stadium Renovation 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.