Active Development AidData Chinese Aid

Chinese Government commits $99 million interest-free loan for fishing communities and other social services

$99M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of Ghana
Country	Ghana
Start Date	Jan 01, 2009
End Date	Aug 16, 2033
Duration	8,993 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`34640`

Grant Description

Chinese Government commits $99 million interest-free loan for fishing communities and other social services In 2009, China gave Ghana a 99 million USD interest-free loan to construct landing sites for fishing communities, provide social services, build schools and hospitals, and continue educational exchanges and scholarships.

Some parts of the loan may have gone to the Afife rice project.

📋 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

Assessing the Chinese Influence in Ghana Angola, and Zimbabwe: The Impact of Politics
Partners, and Petro
Ghana 2011
CHINA’S DEVELOPMENT INITIATIVES IN GHANA, 1961-2011 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.