Active Development AidData Chinese Aid

Chinese Government provides RMB 20 million interest-free loan for acquisition of office supplies and agricultural equipment (Linked to Record ID#55607 and ID#86586)

¥20M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of the Central African Republic
Country	Central African Republic
Start Date	Mar 11, 2004
End Date	Apr 15, 2032
Duration	10,262 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`378`

Grant Description

Chinese Government provides RMB 20 million interest-free loan for acquisition of office supplies and agricultural equipment On March 11, 2004, the Chinese Government provided a RMB 20 million interest-free loan to the Government of the Central African Republic to facilitate its acquisition of office supplies and agricultural equipment.

📋 Loan / Grant Terms

💰 Loan Amountcarried the following terms: a 20 year maturity

📅 Maturity20 years

⏳ Grace Period10 years

💹 Interest Rate0%

It also provided an RMB 12 million general budget support grant to help it pay salary arrears owed to civil servants (as captured via Record ID#55607). The RMB 20 million loan was forgiven in June 2019 (as captured via Record ID#86586).

📋 Staff Comments

Some sources (including SAIS-CARI) suggest that the proceeds from this loan were used to pay civil servant salaries. However, AidData relies on an official source (AFDB), which reports that the Chinese Government provided an RMB 20 million interest free loan in 2004 for the acquisition of office supplies and agricultural equipment and a separate RMB 12 million general budget support grant in 2004 to help the government pay salary arrears to civil servants.
This record has been marked as having evidence of financial distress because it was subject to debt forgiveness captured in record #86586.

📚 Sources & References

Central African Republic: China Donates US $4 Million Equipment, http://search.proquest.com.gate2.library.lse.ac.uk/docview/192444555/13E94E5FCAA54222840/33?accountid=9630
Central African Republic: China Loans Government US$2.5 Million
China loans Bangui $2 million to pay civil servants
JOINT INTERIM STRATEGY NOTE FOR THE CENTRAL AFRICAN REPUBLIC FOR FISCAL YEARS 2007-2008
Chinese Loans to Africa Database
REPUBLIQUE CENTRAFRICAINE NOTE DE DIALOGUE 2005-2006
CHINA AND THE COUPS: COPING WITH POLITICAL INSTABILITY IN AFRICA
China to help Central African Republic clean up public finances. 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.