Project ID: 1357

China pledges to loan 1.5 billion TZS interest-free for a Housing Construction Project in Zanzibar

Pledged amount

$ 4176431.361

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.

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Tanzania

Sector

Other social infrastructure and services (Code: 160)

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

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2000

Description

On May 1, 2000, China earmarked Tshs1.5 billion for an interest-free loan to construct houses for the people in the Isles. It is a part of a Tshs11 billion loan to be given to Zanzibar for other projects. Around 40-70 percent of the urban population in Tanzania live in poorly serviced squatter settlements. The rest of the loan will be going to mainland projects. It is unclear whether these funds were ever formally committed and then disbursed.

Additional details

Interest-free loans are typically agreed upon through ETCAs which are financed by the Chinese Ministry of Commerce. 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

1

Number of unofficial sources

2

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Tanzania [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