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Chinese Government provides RMB 150 million interest-free loan -- via 2007 ETCA -- for Levy Mwanawasa (Ndola) Stadium Construction Project
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Zambia |
| Country | Zambia |
| Start Date | Jul 02, 2007 |
| End Date | Oct 15, 2026 |
| Duration | 7,045 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 88732 |
Grant Description
Chinese Government provides RMB 150 million interest-free loan -- via 2007 ETCA -- for Levy Mwanawasa (Ndola) Stadium Construction Project On July 2, 2007, the Government of Zambia and China's Ministry of Commerce (MOFCOM signed an economic and technical cooperation agreement (ETCA), which committed an RMB 150 million ($22 million) interest-free loan to the Government of Zambia.
This loan was used to partially finance the Levy Mwanawasa (Ndola) Stadium Construction Project (see Record ID#56956 and #56960).
On June 24, 2019, the Chinese Government announced that it would forgive the entirety of the RMB 150 million loan (as captured via Record ID#88356).
Staff Comments
- This project is also known as the Ndola Stadium Construction Project. The Chinese project title is 恩多拉体育场.
- Since the borrowing terms of the interest-free loan are unavailable, AidData has set the maturity 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 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 mocks Zambia with $22m debt cancellation from $4 b debt
- 李杰大使会见赞比亚铜带省省长
- China writes off US$90m of Zambian debt
- 李杰大使会见赞比亚铜带省省长
- Zambia: China gives $30 mln, writes off $22 mln debt 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 Zambia
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