Project ID: 2248

Chinese Government provides RMB 20 million interest-free loan for unspecified purposes

Commitment amount

$ 4423859.061000001

Constant 2017 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.

Umbrella project

This project is classified as an "umbrella" project, and is connected to related projects.

Summary

Funding agency [Type]

Unspecified Chinese Government Institution [Government Agency]

Recipient

Sierra Leone

Sector

Unallocated/unspecified (Code: 998)

Flow type

Loan

Concessional

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

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2006

Description

In 2006, the Chinese Government and the Government of Sierra Leone signed an RMB 20 million loan agreement for unspecified purposes. According to a “Statement of Outstanding Debts Due External Creditors (On A Loan by Loan Basis)” published by the Auditor General of Sierra Leone in its 2016 Report on the Accounts of Sierra Leone, this loan [Chinese Loan Account No. 2006/1] carries the following terms: 0% interest, 25 year maturity, and 15 year grace period. The first disbursement was made in 2007 and the first repayment is scheduled for 2021. Annual loan repayments of RMB 2 million are scheduled between 2021 and 2030. Disbursed outstanding debt Including principal and arrears as of 31 December 2016 was RMB 18,920,835.

Number of official sources

2

Number of unofficial sources

1

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Sierra Leone [Government Agency]

Implementing agencies [Type]

Government of Sierra Leone [Government Agency]

Loan type

Interest-Free

Maturity

25 years

Interest rate

0.0%

Grace period

15 years

Grant element

84.50900495%

Gurarantee provided

No

Insurance provided

No