Project ID: 1308

Chinese Government provides RMB 20 million interest-free loan -through December 2006 ETCA- for unspecified purposes

Commitment amount

$ 4423859.061000001

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.

Umbrella project

This project is classified as an "umbrella" project, and is connected to related projects.

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Namibia

Sector

Unallocated/unspecified (Code: 998)

Flow type

Loan

Concessional

Yes

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: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2006

Description

In December 2006, the Chinese Government and the Government of Namibia signed an Economic and Technical Cooperation Agreement (ETCA), which committed an RMB 20 million interest-free loan for an unspecified set of development projects. The agreement was signed between Namibian Finance Minister Saara Kuugongelwa-Amadhila and Chinese Ambassador to Namibia Liang Yinzhu. In terms of their agreement, the money will be used for projects and programmes identified by the Namibian Government as per national development objectives. The visit to Namibia by a Chinese Commerce Ministry delegation and the interest-free loan is a follow-up on the FOCAC Summit that was held in Beijing at the beginning of November 2006. It is not clear whether, when, or how the proceeds from this loan were utilized.

Additional details

This loan was very likely committed through an Economic and Technical Cooperation Agreement (ETCA), so AidData has coded it as an umbrella project for the time being. It is not identified as an outstanding debt obligation of the Namibian Government in the Summary Report of the Auditor-General on the Account of the Government of Namibia for the Financial Year Ended 31 March 2014. However, SAIS-CARI records it as an official loan commitment. The Factiva source records the value of the loan as being R18.2 million, but AidData records the transaction amount which is recorded in the SAIS-CARI source. 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

2

Number of unofficial sources

5

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Namibia [Government Agency]

Loan type

Interest-Free

Maturity

20 years

Interest rate

0.0%

Grace period

10 years

Grant element

75.05159755%

Gurarantee provided

No

Insurance provided

No