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Chinese Government signs Economic and Technical Cooperation Agreement loaning $32 million USD interest-free in June 2014 (Linked to Record ID#59263, #40893, ETCA #40890)
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Zambia |
| Country | Zambia |
| Start Date | Jan 01, 2014 |
| End Date | Mar 01, 2030 |
| Duration | 5,903 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 40889 |
Grant Description
Chinese Government signs Economic and Technical Cooperation Agreement loaning $32 million USD interest-free in June 2014 On June 15, 2014, Chinese Vice President Li Yuanchao and Zambian Vice President Guy Scott witnessed the signing of two Economic and Technical Cooperation Agreements (ETCA). One committed a $32 million USD grant (ETCA #40889) and the other was a $32 million USD interest-free loan.
The proceeds from this grant and loan were to be used to improve Zambia's water supply network in rural areas (Record ID#59263), develop an international airport in Lusaka (Record ID#40893, completed in August 2021), and improve the education system. The financial breakdown is unknown.
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
- Zambia
- China Ink U.S.$64 Million Deals
- China Boosts Ties Africa Copper Giant Zambia, 2014 Economic Report
- Ambassador Li Jie Attends the Commissioning Ceremony of Kenneth Kaunda International Airport 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 Zambia
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