China signs interest-free loan agreement of 500 million RMB

$500K USD

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Republic of Congo
Country	Congo
Start Date	Dec 21, 2010
End Date	Feb 10, 2030
Duration	6,991 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`458`

Grant Description

China signs interest-free loan agreement of 500 million RMB On December 21, 2010, Chinese Ambassador to Congo Li Shuli and Congolese Minister of Finance Gilbert Ondongo signed a 500 million CNY interest-free loan agreement for developing medical care and agriculture as part of a larger economic and technical cooperation agreement.

The loan is to be repaid by the Congolese government in a 10-year period from July 1, 2020 to June 30, 2030. The projects to be financed with this loan are to be agreed upon by both governments. The exact nature of these projects and their current status are yet unknown.

📚 Sources & References

China loans Congo 75.8 mln USD for medical, agricultural development, http://global.factiva.com/aa/?ref=XNEWS00020101221e6cl00bf5&pp=1&fcpil=en&napc=S&sa_from= 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.