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Overview

Chinese Government commits RMB 30 million interest-free loan for Green Scheme Project (linked to Record ID#s #43675 and umbrella Record ID#62351)

Commitments (Constant USD, 2023)$6,553,447
Commitment Year•2007Country of Activity•NamibiaDirect Recipient Country of Incorporation•NamibiaSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Feb 5, 2007
Start (planned)
Feb 5, 2007
First repayment
Dec 29, 2016
Last repayment
Dec 27, 2026

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

Government Agencies

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Government of Namibia

Loan desecription

Chinese Government commits RMB 30 million interest-free loan for Green Scheme Project

Grace period•10 yearsGrant element•75.0516%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

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 Record ID#43675. At the same official visit to Namibia, President Hu Jintao also pledged to provide several other financial flows (recorded in the umbrella Record ID#62351). It is unclear if these projects were financed under an ETCA agreement.

Staff comments

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.