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Overview

Chinese Government pledges $20 million interest-free loan to build fish-landing sites in coastal communities in Ghana

Commitments (Constant USD, 2023)$25,722,769
Commitment Year•2010Country of Activity•GhanaDirect Recipient Country of Incorporation•GhanaSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Oct 1, 2010
First repayment (originally scheduled)
Dec 30, 2019
Last repayment (originally scheduled)
Dec 27, 2029

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

Government Agencies

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Government of Ghana

Loan desecription

Chinese Government pledges $20 million interest-free loan to build fish-landing sites in coastal communities in Ghana

Grace period•10 yearsGrant element•75.0516%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

In October 2010, the Chinese Government agreed in principle to provide a $20 million USD interest-free loan to the Government of Ghana to build fish-landing sites for coastal communities. The Government of Ghana’s Ministry of Food and Agriculture announced that it would implement the project in the towns of Moree, Mumford, Winneba and Senya Beraku (which are all located within the Central Region). It is unclear if this pledge ever resulted in an official loan commitment.

Staff comments

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.