Chinese Government provides RMB 30 million million interest-free loan — via ETCA — for unspecified purposes
Commitment amount
$ 7863211.831
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
Project lifecycle
Description
In August 2002, the Chinese Government and the Government of Morocco signed an Economic and Technical Cooperation Agreement (ETCA), which committed an RMB 30 million interest-free loan for unspecified purposes [see 摩洛哥与中国的经济关系（1999―――2003年)]. The ETCA was signed by Moroccan Prime Minister, Abderrahmane Youssoufi, and Chinese Premier, Zhu Rongji.
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
2
Number of unofficial sources
3
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