Project ID: 19020

Chinese Government provides RMB 50 million interest-free loan for small industrial projects and small-scale farms

Commitment amount

$ 13243359.336790426

Adjusted commitment amount

$ 13243359.34

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Namibia

Sector

Other multisector (Code: 430)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

No

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

2005-12-18

Planned start

2005-12-18

Description

On December 18, 2005, the Chinese Government and the Government of Namibia signed an RMB 50 million (approximately N$44.9 million) interest-free loan agreement to support small industrial projects and small-scale farms in Namibia. The agreement was signed by Namibia’s Finance Minister Saara Kuugongelwa-Amadhila and the Chinese Ambassador to Namibia Liang Yinzhu. It is unclear whether, when, and how the proceeds of the loan were used.

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

1

Number of total sources

8

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Namibia [Government Agency]

Loan Details

Maturity

20 years

Interest rate

0.0%

Grace period

10 years

Grant element (OECD Grant-Equiv)

62.9902%

Bilateral loan

Interest-free loan