Chinese Government commits ETCA of RMB 150 million

¥150M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Burundi
Country	Burundi
Start Date	Aug 26, 2014
End Date	Jun 04, 2031
Duration	6,126 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`73419`

Grant Description

Chinese Government commits ETCA of RMB 150 million On August 26, 2014 the Chinese Government and the Government of Burundi signed an Economic and Techincal Cooperation Agreement (ETCA) which committed an RMB 150 million interest-free loan.

📋 Staff Comments

This interest-free loan agreement is separate from the one that was signed in November 2014 (see Project ID#37209). 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

Le Président Nkurunziza s'entretient avec son homologue Chinois
Communiqué sur la visite du Président Pierre Nkurunziza, en Chine 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.