Active Development AidData Chinese Aid

China signs Economic and Technical Cooperation Agreement loaning 1 billion CFA to Cote d'Ivoire to purchase equipment

$1.67M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of Côte d'Ivoire (Ivory Coast)
Country	Cote d'Ivoire
Start Date	Dec 28, 2006
End Date	Feb 12, 2033
Duration	9,543 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`49048`

Grant Description

China signs Economic and Technical Cooperation Agreement loaning 1 billion CFA to Cote d'Ivoire to purchase equipment On 28 December 2006, Chinese and Ivorian government officials signed two Economic and Technical Cooperation Agreement (ETCAs).

On 4 January 2007, the Ivorian Foreign Minister announced that one of these ETCA's involved the Chinese Government loaning 1 billion CFA to the Government of Cote d'Ivoire to buy unspecified equipment. Because the loan is in the form of an ETCA, it is almost certainly interest-free.

This agreement was in pursuit of a promise made at the November 2006 Forum on China-Africa Cooperation (FOCAC) Summit in Beijing. The second ETCA signed that day is captured in Record ID#703.

📋 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

China give millions of euros to aid Ivory Coast
我国政府和科政府的两项经济技术合作协定签订 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.