Active Development AidData Chinese Aid

China offers 2 loans totaling 150 million RMB to Cote d'Ivoire under Economic and Technical Cooperation Agreement (Linked to Record ID#30922, #53269, #60791)

¥150M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Côte d'Ivoire (Ivory Coast)
Country	Cote d'Ivoire
Start Date	May 10, 2013
End Date	Aug 07, 2029
Duration	5,933 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`66198`

Grant Description

China offers 2 loans totaling 150 million RMB to Cote d'Ivoire under Economic and Technical Cooperation Agreement On 10 May 2013, the Chinese Vice Minister of Commerce signed an Economic and Technical Cooperation Agreement (ETCA) providing two interest-free loans with a combined value of 150 million RMB ($24 million USD or 12 billion CFA) to the Government of Cote d'Ivoire.

The financial breakdown between the two loans is unclear.

According to an Ivorian Ministry of Commerce document, these loans were intended to go towards construction of a stadium (possibly #53269), Soubré hydroelectric dam (#30922), Presidential Palace in Yamoussoukro, and Palace of Culture (#60791).

The signing ceremony took place at the the second session of the Sino-Ivorian joint cooperation commission held in Abidjan. The stadium completed construction on October 3rd, 2020. Soubré Hydroelectric Dam Construction Project completed construction on September 24th, 2013. Abidjan Palace of Culture Rehabilitation Project completed construction on May 28th, 2015.

📋 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

RP-13-MAI-2013
La Chine accorde deux prêts de 24 millions de dollars à la Côte d'Ivoire
Coopération Côte d’Ivoire- Chine: Prochaine rencontre de la commission à Beijing
Coopération : La Chine accorde des prêts à la Côte d’Ivoire
La Chine accorde deux prêts de 24 millions de dollars à la Côte d'Ivoire 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.