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Chinese Government provides $16 million interest-free loan — via ETCA — for unspecified purposes (Linked to Record ID#41201)
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Yemen |
| Country | Yemen |
| Start Date | Nov 12, 2014 |
| End Date | Feb 16, 2028 |
| Duration | 4,844 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 41202 |
Grant Description
Chinese Government provides $16 million interest-free loan — via ETCA — for unspecified purposes On 12 November 2014, China signed an Economic and Technical Cooperation Agreement (ETCA) with Yemen involving a $16 million long-term, interest-free loan for financing a number of developmental projects.
This loan is a part of a larger set of three cooperation agreements signed between Yemen and China.
The three agreements were signed, in the presence of Prime Minister Khaled Bahah, by Minister of Trade and Industry Mohammed al-Saadi and Minister of Planning and International Cooperation Mohammed al-Maitami and Chinese ambassador to Yemen Chang Hua.
Under the first two agreements, China gave Yemen an amount of $32 million, half of which is this $16 million long-term interest-free loan and the other $16 million is a grant (see linked Record ID#41201). The third agreement stipulates a 97% custom exemption for Yemeni products exported to China.
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
- Yemen
- China sign 3 cooperation agreement
- Yemen
- China Sign 3 Cooperation Agreements
- 驻也门大使常华与也计划与国际合作部长萨阿迪签署两国经济技术合作协议
- 驻也门大使常华与也计划与国际合作部长萨阿迪签署两国经济技术合作协议
- 也门总理巴哈赫出席中也相关经济技术合作协议签字仪式 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 Yemen
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