China Extends N$720 million credit line to the Namibian government
Pledged amount
$ 159417424.8
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]
Unspecified Chinese Government Institution [Government Agency]
Recipient
Namibia
Sector
Unallocated/unspecified (Code: 998)
Flow type
Loan
Concessional
No
Category
Project lifecycle
Description
In February 2007, during Chinese President Hu Jintao's African tour, he offered the Namibian government N$720 million as a credit line, among other financial assistance and cooperation agreements established during the same visit. It is unclear whether or not the Namibian government will use the line of credit and to what sector it will be applied. It will be used to purchase goods, services, and equipment from the Chinese.
Number of official sources
0
Number of unofficial sources
5
Details
Cofinanced
No
Implementing agencies [Type]
Government of Namibia [Government Agency]
Gurarantee provided
No
Insurance provided
No