China signs an Economic and Technical Cooperation Agreement loaning 40 million RMB interest-free to Djibouti in February 2012 (Linked to #59271, #85281)

On 8 February 2012, Chinese Ambassador and the Djibouti Minister of Foreign Affairs signed an Economic and Technical Cooperation Agreement (ETCA) in which China loaned 40 million RMB interest-free to Djibouti. The known sub-projects are as follows: (1) $1.4 million USD for the El Hadj Hassan Gouled Aptidon Stadium Rehabilitation Project (#59271) and (2) 66 million RMB (about $10.7 million USD) for the School of Excellence Project (#85281) (See: 中吉两国政府签署经济技术合作协定). Both of these projects have been completed. It is unknown if other projects were funded through this ETCA.

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

0