Project ID: 1788

Chinese Government provides $3 million interest-free loan — via ETCA — for unspecified development projects

Commitment amount

$ 6289115.841

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

Morocco

Sector

Unallocated/unspecified (Code: 998)

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

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2000

Description

On March 24, 2000, the Chinese Government and the Government of Morocco signed an Economic and Technical Cooperation Agreement (ETCA), which committed a $3 million (MAD 30 million) interest-free loan to an unspecified set of economic development projects in Morocco. The Moroccan Secretary of State [to the Minister of State for Foreign Affairs and Cooperation], Mrs. Aicha Benlarbi, and the Chinese Deputy Minister of Foreign Trade and Cooperation signed the agreement in Rabat, Morocco. The agreement was also signed in the presence of Minister of State for Foreign Affairs and Cooperation, Mohamed Benaissa, and Chinese State Councillor, Luo Gan. The borrower is responsible for repaying the loan over a period of 10 years. However, it is unclear if this 10 year period refers to the maturity length or the repayment period (after the expiration of a grace period).

Additional details

A duplicate project (#55982) was deactivated and the sources were added to this project. 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

6

Download the dataset

Details

Cofinanced

No

Receiving agencies [Type]

Government of Morocco [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