Chinese Government offers N$720 million credit line to the Namibian government

$720K USD

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Namibia
Country	Namibia
Start Date	Feb 05, 2007
End Date	Jun 26, 2033
Duration	9,638 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`18237`

Grant Description

China Extends N$720 million credit line to the Namibian government On February 5th, 2007, during Chinese President Hu Jintao's African tour, he offered the Namibian government N$720 million as a credit line, among other financial assistance and cooperation agreements established during the same visit.

It is unclear whether or not the Namibian government will use the line of credit and to what sector it will be applied. It will be used to purchase goods, services, and equipment from the Chinese.

📚 Sources & References

http://www.namibian.com.na/index.php?id=28&tx_ttnews%2525255Btt_news%2525255D=33688&no_cache=1, http://global.factiva.com/redir/default.aspx?P=sa&an=AFNWS00020070207e327000kb&cat=a&ep=ASE, http://www.ccs.org.za/wp-content/uploads/2009/04/ccs-china-monitor-february-072.pdf
China Offers Country N$1.7 Billion
China Offers Country N$1.7 Billion 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.