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Chinese Government signs Economic and Technical Cooperation Agreement loaning 32 billion ZMK interest-free for unspecified projects in December 2011 (Linked to ETCA #2334)
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Zambia |
| Country | Zambia |
| Start Date | Dec 12, 2011 |
| End Date | Apr 20, 2028 |
| Duration | 5,974 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 2335 |
Grant Description
Chinese Government signs Economic and Technical Cooperation Agreement loaning 32 billion ZMK interest-free for unspecified projects in December 2011 On December 12, 2011, Zambia’s Finance and National Planning Minister Alexander Chikwanda and China’s Vice-Foreign Minister Zhai Jun signed two Economic and Technical Cooperation Agreements (ETCA).
One committed a 43.3 billion ZMK ($8.5 million USD) grant (ETCA #2334) and the other was a 32 billion ZMK ($6.2 million USD) interest-free loan.
The proceeds from the funds were supposed to be used in the fight against poverty and to support other projects that would support the Government of Zambia’s Sixth National Development Plan (SNDP). However, it is unclear exactly how the proceeds were ultimately used.
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
- 中国政府和赞比亚政府签署两份经济技术合作协定
- Zambia
- China ink two big deals
- Vice Foreign Minister Zhai Jun Meets with Zambian President Sata
- China gives $14.7m to Zambia 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 Zambia
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