China provides 50 million RMB interest-free loan to Kenya for resettlement of refugees (linked to #19014)
Pledged amount
$ 10968070.957170384
Adjusted pledged amount
$ 10968070.957170384
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Recipient
Kenya
Sector
Emergency response (Code: 720)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
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 (Project #19014).
Additional details
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.
Number of official sources
0
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Kenya [Government Agency]
Loan Details
Maturity
20 years
Interest rate
0.0%
Grace period
10 years
Grant element (OECD Grant-Equiv)
71.6021%