Project ID: 1256

China issuesa 30 million yuan loan at zero interest to Namibia

Pledged amount

$ 8829412.018074397

Adjusted pledged amount

$ 8829412.018074397

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]

Unspecified Chinese Government Institution [Government Agency]

Recipient

Namibia

Sector

General budget support (Code: 510)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Pledge (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2003-10-01

Description

In late October of 2003, China's ambassador to Namibia announced that his government would give the African country a 30 million Yuan loan at zero interest in order to enhance cooperation between the two countries and help Namibia with development programs. A diplomat outlined that the funds were meant for the purchase of general goods. Calle Schlettwein, Permanent Secretary in the Namibian Ministry of Finance, was involved with the negotiation of terms. After contemplation as to whether or not to accept the amount, the Namibian government decided to accept the loan in December of 2003. It is unclear exactly what the funds were used to purchase, but the project appears to be untied. The loan is meant to be repaid over a 10-year period, beginning in 2013.

Number of official sources

0

Number of total sources

2

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Namibia [Government Agency]

Loan Details

Maturity

10 years

Interest rate

0.0%

Grant element (OECD Grant-Equiv)

27.196%

Bilateral loan

Interest-free loan