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China signs an Economic and Technical Cooperation Agreement loaning 100 million RMB interest-free to Republic of Congo in March 2013
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Republic of Congo |
| Country | Congo |
| Start Date | Jan 01, 2013 |
| End Date | Mar 11, 2028 |
| Duration | 5,548 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 59499 |
Grant Description
China signs an Economic and Technical Cooperation Agreement loaning 100 million RMB interest-free to Republic of Congo in March 2013 In March 2013 during Chinese President Xi Jinping's official visit to the Republic of Congo, government officials signed 11 different economic and technical cooperation agreements (ETCA).
One of these ETCAs loaned 100 million RMB interest-free to the Government of Congo for unspecified projects.
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
- Congo-Chine : bilan d’un demi-siècle de coopération et de perspectives
- 中国在刚果（布）迎来美好时代 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 Republic of Congo
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