Overview

CDB provides a $2 million USD loan to finance modern rice farm project in Cameroon (Linked to Record ID#59246)

Commitments (Constant USD, 2023)$2,572,277

Commitment Year•2010Country of Activity•CameroonDirect Recipient Country of Incorporation•China (People's Republic of)Sector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 24, 2010

Geospatial footprint

Map overview

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The purpose of this project was for the CDB to provide a $2 million USD loan to finance modern rice farm project in Cameroon. More detailed locational information can be found at: https://www.openstreetmap.org/relation/3822286

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% Chinese ownership

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

State-owned companies

Shaanxi Agricultural Reclamation Group Co., Ltd.

Implementing agencies

Government Agencies

Cameroon Ministry of Agriculture

State-owned companies

Shaanxi Agricultural Reclamation Group Co., Ltd.

Loan desecription

CDB provides a $2 million USD loan to finance modern rice farm project in Cameroon

Interest type•Unknown

Narrative

Full Description

Project narrative

According to a CDB report, on March 24, 2010, CDB, Cameroon's Ministry of Agriculture, and Shaanxi Agricultural Reclamation Group Co., Ltd. (also known as Shaanxi State Farms Group) signed a tripartite framework agreement for supporting an agricultural investment project in Cameroon. CDB was to provide a $2 million USD loan to Shaanxi State Farms Group to support its endeavors in the Exemplary Modern Rice Farm Project for the Government of Cameron, which is likely the Chinese Government-funded Nanga-Eboko Agricultural Application and Technologies Centre (see linked Record ID#59246). The loan terms are unknown. According to multiple reports, the loan has been disbursed. The status of the project is completed as of 2010.

Staff comments

SAIS-CARI identifies the borrower of the loan as the Government of Cameroon in the database of Chinese loan commitments that it released in July 2020; however, AidData identifies the borrower as Shaanxi Agricultural Reclamation Group Co., Ltd./Shaanxi State Farms Group Co., LTD. because China Development Bank itself identifies it as the borrower.