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

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