Loading grant details…
Chinese Government commits $16 million interest-free loan for unspecified projects (Linked to Record ID#30135)
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Zimbabwe |
| Country | Zimbabwe |
| Start Date | May 22, 2013 |
| End Date | Sep 01, 2028 |
| Duration | 5,581 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 30802 |
Grant Description
Chinese Government commits $16 million interest-free loan for unspecified projects On 22 May, 2013, China signed an agreement to provide Zimbabwe an interest-free $16 million USD loan payable over 5-years for various projects in water, mining, and other sectors.
The agreements were signed by Acting Zimbabwean Finance Minister, Sipepa Nkomo, and the Chinese Deputy Minister of Commerce in the presence of Vice President, Joice Mujuru, and the visiting Chinese Vice-Premier, Wang Yang.
Also on this day, the Chinese Government provided a $16 million USD grant for the same unspecified purposes within the water and mining sectors. This grant is captured in the linked Record ID#30135.
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
- Zimbabwe
- China pen US$32 million cooperation agreements
- China ready to assist Zimbabwe - extends US$36 million loan
- China Extends US$36 million for Projects 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 Zimbabwe
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
