Chinese Government provides interest-free loan worth CFA 3 billion for unspecified development projects (Linked to Project ID#334)
Constant 2017 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.
This project is classified as an "umbrella" project, and is connected to related projects.
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Unallocated/unspecified (Code: 998)
On May 24, 2001, the Chinese Government and the Government of the Republic of Congo signed an interest-free loan agreement worth CFA 3 billion for an unspecified set of development projects (to be later agreed upon by the two parties). On May 25, 2001, the Chinese Government and Republic of Congo signed a related agreement for the cancellation of $43 million in outstanding debt, for this agreement see project ID#334.
This loan was almost certainly approved through an Economic and Technical Cooperation Agreement (ETCA) and it most likely supported multiple projects, so AidData has coded it as an umbrella project for the time being. 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
Number of unofficial sources
Receiving agencies [Type]
Government of Republic of Congo [Government Agency]