Chinese Government commits RMB 30 million interest-free loan for Green Scheme Project (Linked to projects #43675 and umbrella project #62351)

On February 5, 2007, President Hu Jintao agreed to provide an RMB 30 million interest-free loan to the Government of Namibia for the Green Scheme Project. The Green Scheme Project is a national initiative to develop irrigation-based, agronomic production, seeking to maximize agricultural output through efficient water usage. Another goal of the project is to increase large-scale commercial crop production in Namibia. Also on this date, President Hu Jintao agreed to provide an RMB 30 million grant for the Green Scheme Project, which is recorded in the linked project #43675. At the same official visit to Namibia, President Hu Jintao also pledged to provide several other financial flows (recorded in the umbrella project #62351). It is unclear if these projects were financed under an ETCA agreement.

Additional details

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

4

Number of total sources

7