Completed Development AidData Chinese Aid

Chinese Government provides 5-year grace period extension on interest-free loan for construction of University of South Pacific Law School (Linked to Record ID#39295, #73393)

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Vanuatu
Country	Vanuatu
Start Date	Nov 25, 2003
End Date	Sep 02, 2031
Duration	10,143 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`37722`

Grant Description

📋 Loan / Grant Terms

💰 Loan Amountthat the Government of Vanuatu had contracted in 1995: a $10 million loan for the construction of the University of South Pacific (USP) Law School (see Record ID#39295) that was scheduled to enter its repayment period on November 26

At the time of the signing of the agreement, Vanuatu’s Minister of Foreign Affairs said, ‘So far, there has never been any loan payments made by the government towards the USP complex.

However, the government intends to pay up within this next 5-years.’ Then, in 2013, USP announced that the Chinese Government had cancelled the Government of Vanuatu’s repayment obligations related to the loan that was issued for the construction of the USP Law School.

This project captures the 5-year grace period extension and Record ID#73393 captures the cancellation of the Government of Vanuatu’s outstanding repayment obligations.

📋 Staff Comments

The precise year in which the Chinese Government cancelled the Government of Vanuatu’s repayment obligations is unknown. For the time being, AidData assumes that the commitment year was in 2008 (when the 5-year grace period extension ended).

📚 Sources & References

Chinese minister signs agreements in Vanuatu
CHINA
VANUATU SIGN AGREEMENTS
Chinese minister signs agreements in Vanuatu
New Emalus campus extension opens
Vanuatu: Recent Economic Developments 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 Vanuatu

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