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China provides a 30 Million RMB Interest-free loan to Trinidad and Tobago for use in Small Business
| Funder | Unspecified Chinese Government Institution |
|---|---|
| Recipient Organization | Government of the Republic of Trinidad and Tobago |
| Country | Trinidad and Tobago |
| Start Date | Jan 01, 2002 |
| End Date | Jun 29, 2026 |
| Duration | 8,945 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 68929 |
Grant Description
China provides a 30 Million RMB Interest-free loan to Trinidad and Tobago for use in Small Business China provided a RMB 30 million interest-free loan in 2003, committed in 2002, to the Government of Trinidad and Tobago to support the business sector.
This loan was, among other things, used by the Small Business Leasing Company in a $7 million Trinidadian Dollar draw down to acquire equipment and machinery for leasing to small businesses. The loan represented 0.5% of Trinidad and Tobago's debt in 2002.
The main sub-sectors which benefited from these leasing activities were seafood processing, health services, aluminum products manufacturing, and printing and packaging. The loan was fully disbursed.
The loan followed a July 2002 Memorandum of Understanding on the Mutual Promotion and Protection of Investment between Trinidad and Tobago and China. The original framework for the loan was laid down in 1997. According to the Estimates of Recurrent Expenditure, this loan was fully repaid by 2018.
Staff Comments
The Small Business Development (Leasing) Company is now known as the National Entrepreneurship Development Company Limited (NEDCO).
Sources & References
- PUBLIC SECTOR INVESTMENT PROGRAMME 2002
- PUBLIC SECTOR INVESTMENT PROGRAMME 2003
- ESTIMATES OF EXPENDITURE FOR THE FINANCIAL YEAR 2017
- AGREEMENT BETWEEN THE GOVERNMENT OF THE PEOPLE'S REPUBLIC OF CHINA AND THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO ON THE RECIPROCAL PROMOTION AND PROTECTION OF INVESTMENTS
- Public Accounts of the Republic of Trinidad and Tobago for the Financial Year 2011, https://www.pwccn.com/en/migration/pdf/iic-full.pdf
- China's relations with Trinidad and Tobago
- Annual Economic Survey 2000
- DETAILS OF ESTIMATES OF RECURRENT EXPENDITURE FOR THE FINANCIAL YEAR 2018 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 the Republic of Trinidad and Tobago
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