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China loans $15 Million USD interest-free to Tanzania in November 2011
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Tanzania |
| Country | Tanzania |
| Start Date | Nov 21, 2011 |
| End Date | Sep 15, 2028 |
| Duration | 6,143 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 85240 |
Grant Description
China loans $15 Million USD interest-free to Tanzania in November 2011 On November 21, 2011, Chinese Vice Minister of Commerce Jiang Yaoping signed a series of agreements with Tanzanian Finance Minster Mustafa Mkulo to boost infrastructure in the country. One of the agreements was a $15 million USD interest-free loan for unspecified projects.
The other agreements signed during this meeting was a 410 million RMB loan for the Independent Secured Mobile Network Project (#1924), a $10 million USD grant (#1925), and a batch of vehicles worth $5.7 million USD (#1926).
Staff Comments
Interest-free loans supported by the Chinese Ministry of Commerce are often disbursed through economic and technical cooperation agreements (ETCAs). However, AidData did not find any sources confirming this claim. 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
China provides loans, grant worth 95 mln USD to Tanzania 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 Tanzania
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