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Chinese Government provides RMB 30 million interest-free loan — via ETCA — for unspecified purpose
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Equatorial Guinea |
| Country | Equatorial Guinea |
| Start Date | Apr 01, 2007 |
| End Date | Dec 21, 2026 |
| Duration | 7,204 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 91973 |
Grant Description
Chinese Government provides RMB 30 million interest-free loan — via ETCA — for unspecified purpose On April 1, 2007, the Chinese Government and the Government of Equatorial Guinea signed an Economic and Technical Cooperation Agreement (ECTA), which committed an RMB 30 million interest-free loan for unspecified purposes.
According to the Autonomous Fund for Amortization of Public Debt (Caja Autónoma de Amortización de la Deuda Pública) within Equatorial Guinea’s Ministry of Finance and Budget, this loan had disbursed RMB 30 million as of December 31, 2019. The borrower had not made any principal or interest payments as of December 31, 2019.
As such, the loan's principal amount outstanding was RMB 30 million as of December 31, 2019.
Staff Comments
- Since the borrowing terms of the interest-free loan are unavailable, AidData has set the maturity to 20-years by default and the 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, a grace period of 5-years, and repayment over 10-years.
- The proceeds of this loan may have been used to support the Bata Ministry of Foreign Affairs Office Building Construction Project (captured via Record ID#62476). This issue warrants further investigation.
- This MOFCOM interest-free loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020.
Sources & References
- List of Chinese loans published of Equatorial Guinea Ministry of Finance Website in 2021, deuda externa e interna
- ACUERDOS GUINEA ECUATORIAL 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 Equatorial Guinea
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