Active Development AidData Chinese Aid

Chinese Government provides $2.5 million interest-free loan for critical underfunded areas

$2.5M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of Zimbabwe
Country	Zimbabwe
Start Date	Jan 01, 2008
End Date	Sep 06, 2028
Duration	7,554 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`19924`

Grant Description

Chinese Government provides $2.5 million interest-free loan for critical underfunded areas On 23 February, 2008, the Chinese Government signed an interest-free loan agreement worth $2.5 million with the Government of Zimbabwe for 'critical areas that need funds'.

The Chinese Government was represented by Vice Minister of Commerce, Gao Hucheng, at the signing ceremony while the Zimbabwean Government was represented by the Acting Minister of Finance and Minister of Industry and Internatioanl Trade, Obert Mpofu. Information on the final disbursement of these funds and the relevant dates of implementation is uncertain.

📋 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
China Sign U.S.$42m Loan Facility
Country
China Sign U.S.$42m Loan Facility
Country
China Sign U.S.$42m Loan Facility, http://global.factiva.com/aa/?ref=AFNWS00020080223e42n0008d&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.

All Grantees

Government of Zimbabwe

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