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China and Burundi signed 2 million USD Economic and Technical Cooperation Agreement (ETCA) (Linked to Record ID#12298)
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Burundi |
| Country | Burundi |
| Start Date | Jan 09, 2008 |
| End Date | May 06, 2028 |
| Duration | 7,423 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 345 |
Grant Description
China and Burundi signed 2 million USD Economic and Technical Cooperation Agreement (ETCA) On January 9th, 2008, Chinese Foreign Minister Yang Jiechi and Burundi Foreign Minister Antoinette Batumubwira signed an Economic and Technical Cooperation Agreement for 2 million USD.
The interest-free loan provided by the Chinese government will be used for Chinese-funded construction projects in Burundi, to support the government's economic revitalization and social development plan, and to help Burundi enhance its independent development capacity. According to the Chinese Embassy in Burundi, the ETCA was mainly used to fund the construction of a hospital (#12298).
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
- http://chn.chinamil.com.cn/xwpdxw/gjssxw/2009-11/07/content_4075713.htm, http://www.fmprc.gov.cn/eng/wjb/zzjg/fzs/xwlb/t399193.htm
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- China and Burundi sign new economic and technological cooperation agreement, http://global.factiva.com/aa/?ref=DJI0000020080109e4190011f&pp=1&fcpil=en&napc=S&sa_from=
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All Grantees
Government of Burundi
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