China and Zimbabwe signs Economic and Technical Cooperation Agreement for 20 million RMB loan

On August 9, 2000, the Chinese government signed an Economic and Technical Cooperation Agreement with the Zimbabwean government for an interest-free loan worth 20 million RMB that would be disbursed to future projects to be decided upon during a three-year period beginning October 1, 2000. During the signing of the agreement at the capital in Harare, Zimbabwe, the Chinese government was represented by Assistant Minister of Foreign Trade and Economic Cooperation He Xiaowei while the Zimbabwean government was represented by Minister of Finance and Economic Development Simba Makoni. Additional research into organizations was involved and the actual start and finish of disbursement payments were unsuccessful.

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

0

Number of unofficial sources

2