Active Development AidData Chinese Aid

Chinese Government provides CFA 3.7 billion interest-free loan for unspecified purposes

$6.17M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of Republic of Congo
Country	Congo
Start Date	Dec 21, 2010
End Date	Jan 18, 2029
Duration	6,603 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`30495`

Grant Description

Chinese Government provides CFA 3.7 billion interest-free loan for unspecified purposes On December 21, 2010, the Congolese Minister of Finance, Budget and Public Portfolio Gilbert Ondongo and Chinese Ambassador to the Republic of Congo signed an interest-free loan agreement worth 3.7 billion CFA francs.

This interest-free loan was the result of discussions between of heads of state Denis Sassou Nguesso and Chinese Hu Jintao at the Shanghai World Expo 2010.

📋 Staff Comments

This loan was almost certainly approved through an Economic and Technical Cooperation Agreement (ETCA), which may have supported multiple projects, so AidData has coded this record as an umbrella project for the time being. 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

China Offers 3.7 Million CFA Francs to the Congo
中、刚两国政府签署经济技术合作协定 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.