Active Development AidData Chinese Aid

Chinese Government provides CFA 2 billion interest-free loan to support various development projects

$3.33M USD

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Republic of Congo
Country	Congo
Start Date	Mar 23, 2008
End Date	Aug 19, 2028
Duration	7,454 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`30494`

Grant Description

Chinese Government provides CFA 2 billion interest-free loan to support various development projects On March 23, 2008, the Chinese Government China and the Republic of Congo signed a loan agreement worth 2 billion CFA francs.

📋 Loan / Grant Terms

💰 Loan Amountcarried the following terms: a 20 year maturity

📅 Maturity20 years

⏳ Grace Period10 years

💹 Interest Rate0%

The proceeds of the loan were used to be used by the borrower to support the construction of a library at the University of Marien Ngouabi (see record #18223), the construction of three rural schools (see record #1071), the construction of the Sino-Congolese Friendship Hospital Construction Project in M’Filou (see record #30201), and the construction of a water tower in Oyo (see record #1060).

The loan agreement was signed in Brazzaville by Congolese Minister of Economy, Finance, and Budget Issoïbéka Pacific and Chinese Ambassador to the Congo. Based on the completion of the Linked records, the completion date is March 30, 2013.

📋 Staff Comments

1. This loan was almost certainly approved through an Economic and Technical Cooperation Agreement (ETCA) and it supported multiple projects, so AidData has coded it as an umbrella project.

📚 Sources & References

La Chine accorde un prêt de 2 milliards de francs CFA à la République du Congo
L’AIDE PUBLIQUE AU DEVELOPPEMENT DE LA CHINE AUX PAYS PETROLIERS ET MINIERS D’AFRIQUE CENTRALE CONTRIBUE –T- ELLE AU DEVELOPPEMENT DURABLE DES PAYS RECIPIENDAIRES ? 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.