Project ID: 20910

Chinese Government pledges to provide interest-free loan for Plaza Theatre Repair and Renovation Project

Pledged amount

$ 39756427.80942761

Adjusted pledged amount

$ 39756427.80942761

Constant 2021 USD

Not recommended for aggregates

This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Mauritius

Sector

Other social infrastructure and services (Code: 160)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

Yes

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: Pledge (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2003-01-01

Description

On January 31, 2003, the Cabinet of the Government of Mauritius agreed in principle to use funds from interest-free loans offered by the Chinese Government for the renovation and repair of the Plaza Theatre in Rose-Hill. The project consisted of three phases: the renovation of the roof (Phase 1), the renovation of the facades and administrative wing (Phase 2), and the refurbishment of the theater space and auxiliary works (Phase 3). Phase 1 was fully financed by the Government of Mauritius itself. It is unclear how Phases 2 and 3 were financed and whether any Chinese Government funds were utilized.

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

4

Number of total sources

5

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Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Mauritius [Government Agency]

Loan Details

Maturity

20 years

Interest rate

0.0%

Grace period

10 years

Grant element (OECD Grant-Equiv)

57.6211%

Bilateral loan

Interest-free loan

Investment project loan