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Overview

Chinese Government agreed to provide 120 million RMB interest free loan to Rwanda

Commitments (Constant USD, 2023)$20,615,912
Commitment Year•2012Country of Activity•RwandaDirect Recipient Country of Incorporation•RwandaSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 1, 2012
First repayment
Dec 29, 2021
Last repayment
Dec 27, 2031

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 Rwanda

Loan desecription

Chinese Government agreed to provide 120 million RMB interest free loan to Rwanda

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

Narrative

Full Description

Project narrative

In December 2012, the Chinese government agreed to loan 120 million RMB (19 million USD) interest free to Rwanda. The Minister of Foreign Affairs and Cooperation for Rwanda, Louise Mushikiwabo, signed an agreement with the Chinese Ambassador to Rwanda, Shu Zhan. The loan will be an interest-free. In the same agreement, China pledged two grants worth 16 million USD (Record ID#30699 and #30729).

Staff comments

We suspect that this is the result of an ETCA, but no information from official sources names it as such. 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.