Chinese Government provides RMB 30 million interest-free loan for unspecified purposes

On the anniversary of Sir Seewoosagur Ramgoolam's historic visit to China on the 10th of July, 1972, the current Prime Minister Navinchandra Ramgoolam and Financial Minister Rama Sithanen made an official visit to Beijing in 2007 and were offered, among other things, an interest-free loan of 30 million RMB by the Chinese government as part of an aid package. The projects financed with this loan are yet unknown. The other offers made on this same visit are captured in #1152, #20184, #20814, and #20827.

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 unofficial sources

1