China provides 26 billion UGX interest free loan to Uganda
Commitment amount
$ 10579780.41
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]
China Ministry of Commerce [Government Agency]
Recipient
Uganda
Sector
Unallocated/unspecified (Code: 998)
Flow type
Loan
Concessional
Yes
Category
Project lifecycle
Description
In 2012, the Chinese government signed an agreement with Uganda for a 26 billion UGX interest-free loan for implementing unidentified development programs. The loan has a maturity period of 10 years. The loan agreement was signed by the Chinese ambassador to Uganda, Zhao Yali, and the Ugandan Minister of Finance, Planning, and Economic Development, Fred Jachan Omach. A 20 billion UGX grant was signed at the same time (ID#30256). The current status and the specific use(s) of the loan are unknown.
Additional details
This interest free loan commitment was almost certainly made through an Economic and Technical Cooperation Agreement (ETCA) so we have identified it as an 'umbrella' project.
Number of official sources
0
Number of unofficial sources
3
Details
Cofinanced
No
Receiving agencies [Type]
Uganda Ministry of Finance [Government Agency]
Implementing agencies [Type]
Government of Uganda [Government Agency]
Loan type
Interest-Free
Maturity
10 years
Interest rate
0.0%
Grant element
35.29026927%
Gurarantee provided
No
Insurance provided
No