Chinese Government provides RMB 50 million interest-free loan for small industrial projects and small-scale farms
Constant 2017 USD
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Other multisector (Code: 430)
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.
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
Number of unofficial sources
Receiving agencies [Type]
Government of Namibia [Government Agency]