Loading grant details…
China Eximbank signed MOU for $300 million master loan facility to fund Growth and Transformation Plan in Ethiopia (linked to Record ID#1464)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Commercial Bank of Ethiopia (CBE) |
| Country | Ethiopia |
| Start Date | Dec 05, 2011 |
| End Date | Nov 26, 2033 |
| Duration | 8,027 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 30022 |
Grant Description
China Eximbank signed MOU for $300 million master loan facility to fund Growth and Transformation Plan in Ethiopia On December 5, 2011, Bekalu Zeleke, President of the Commercial Bank of Ethiopia (CBE), and Zhu Hongjie signed a memorandum of understanding) with which the China EXIM Bank agreed to provide a master loan facility of 5.2 billion birr (approximately 300 million USD) to Ethiopia.
According to MoFED, the loan will be used for the implementation of various projects planned under Ethiopia's five- year Growth and Transformation Plan (GTP).
According to the Ministry of Foreign Affairs, a loan agreement of about 1.7 billion birr was also signed and will be "utilized to drill water wells in selected areas of [Addis Ababa,]" This financing is captured in Record ID#1464 (also see "埃塞媒体报中国、埃塞签署69亿比尔贷款协议").
The status of the projects are uncertain.
Staff Comments
This master loan facility is likely different from the US$ 500 million master loan facility captured in #1456.
Sources & References
- China
- Ethiopia sign loan agreement, http://www.mofed.gov.et/English/Resources/Documents/Public%20Sector%20Debt%20Statistical%20Bulletin%20No.%209%20(2007-08%20-%202011-12).pdf
- ETHIOPIA
- CHINA’S EXIM BANK SIGN 6.9 BLN BIRR LOAN AGREEMENTS
- Ethiopia
- China sign 6.9 bln birr loan agreement
- 埃塞媒体报中国、埃塞签署69亿比尔贷款协议
- China
- Ethiopia sign loan agreement 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
Commercial Bank of Ethiopia (CBE)
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
