China provides 50 million RMB interest free loan (Linked to Record ID#30613, #30225)

Funder	China (People's Republic of)
Recipient Organization	Mali
Country	Mali
Start Date	Nov 05, 2011
End Date	Apr 29, 2030
Duration	6,750 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`30618`

Grant Description

China provides 50 million RMB interest free loan On September 21, 2011, during a visit for the inauguration of a bridge built in Bamako, the Chinese Assistant Minister of Commerce Yu Jiahua signed an agreement with Mali's Minister of Foreign Affairs and International Cooperation Soumeylou Maiga Boubèye.

One portion of the agreement was an interest-free loan worth 50 million RMB (approximately 3.6 billion CFA francs (XOF)). The total agreement was worth more than 54 billion CFA francs.

The loan was projected to be used to finance projects identified by the Malian government to improve the population's living conditions. 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.