China signs Economic and Technical Cooperation Agreement loaning $8 million USD interest-free to Lesotho (Linked to Record ID#53050)

Funder	China (People's Republic of)
Recipient Organization	Lesotho
Country	Lesotho
Start Date	Jul 13, 2012
End Date	Sep 04, 2033
Duration	7,723 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`71734`

Grant Description

China signs Economic and Technical Cooperation Agreement loaning $8 million USD interest-free to Lesotho On 27 June 2012, the Chinese Vice Minister of Commerce signed an Economic and Technical Cooperation Agreement (ETCA) providing an interest-free loan equal to roughly $8 million USD to the Government of Lesotho.

The funds will cover "the shortfall" for the Lesotho National Convention Center Maintenance Project (#53050) and additional unspecified "social projects". Whether and how exactly this money was spent is unknown. 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.