Active Development AidData Chinese Aid

Chinese Government provides Suriname with an interest-free loan through a 2009 ETCA (Linked to Record ID#56503)

Funder	China Ministry of Commerce
Recipient Organization	Government of Suriname
Country	Suriname
Start Date	Apr 24, 2009
End Date	Oct 03, 2029
Duration	7,467 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`56504`

Grant Description

Chinese Government provides Suriname with an interest-free loan through a 2009 ETCA On April 24, 2009, the Chinese Government and the Government of Suriname signed an Economic and Technical Cooperation Agreement (ETCA) in which the Chinese Government provided Suriname with an interest-free loan.

📋 Loan / Grant Terms

💰 Loan Amounthas a grace period of five years and a maturity of ten years

The amount and purpose of the loan were not specified.

The loan agreement was signed by Chinese ambassador Su Ge and by Surinamese Minister of Foreign Affairs Kraag-Keteldijk and Minister of Finance Hildenberg. This interest-free loan was agreed upon at the same time as a similar grant project (#56503).

📋 Staff Comments

As ETCAs are a financing mechanism specific to China's Ministry of Commerce (MOFCOM) and it provides the vast majority of China's interest-free loans, AidData has coded MOFCOM as the specific Chinese Government institution responsible for the provision of this grant. 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

Two Agreements Signed between China and Suriname
China geeft Suriname blanco check van 3 miljoen
中国向苏里南提供无偿援助和无息贷款协定签署 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.