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Overview

China provides 50 million RMB interest-free loan to Kenya for resettlement of refugees (linked to Record ID#19014)

Commitments (Constant USD, 2023)$10,132,546
Commitment Year•2008Country of Activity•KenyaDirect Recipient Country of Incorporation•KenyaSector•Emergency ResponseFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
May 15, 2008
First repayment
Dec 29, 2017
Last repayment
Dec 27, 2027

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% host country ownership

Funding agencies

Government Agencies

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Government of Kenya

Loan desecription

China provides 50 million RMB interest-free loan to Kenya for resettlement of refugees (linked to Record ID#19014)

Grace period•10 yearsGrant element•75.0516%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

On May 15, 2008, the Chinese Government offered Kenya an interest-free loan of 50 million yuan to help resettle hundreds of thousands of villagers uprooted by political turmoil following Kenyan elections. The project is linked to a 200 million shillings grant of the same nature (Record ID#19014).

Staff comments

Status is coded as Pipeline: Pledge as the loan is excluded from the Government of Kenya's debt register. 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.