Chinese Government provides RMB 20 million interest-free loan — through ETCA — for unspecified purposes in February 2011
Commitment amount
$ 3304198.762
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
Guinea
Sector
Unallocated/unspecified (Code: 998)
Flow type
Loan
Concessional
Yes
Category
Project lifecycle
Description
On February 14, 2011 during his visit to Guinea, Chinese Foreign Minister Yang Jiechi signed an Economic and Technical Cooperation Agreement (ETCA) loaning RMB 20 million interest-free to the Government of Guinea for unspecified purposes. It is unclear whether these funds were ever disbursed.At the same meeting, China also granted RMB 150 million to Guinea (ETCA #13254).
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 unofficial sources
3
Details
Cofinanced
No
Receiving agencies [Type]
Government of Guinea [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