Project ID: 30305

Chinese Government pledges $51 million loan to Zimbabwe’s Grain Marketing Board (GMB) for logistics fleet and ICT infrastructure

Pledged amount

$ 51943739.31

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.

Summary

Funding agency [Type]

Unspecified Chinese Government Institution [Government Agency]

Recipient

Zimbabwe

Sector

Agriculture, forestry, fishing (Code: 310)

Flow type

Loan

Concessional

Vague

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (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 year

2012

Description

In December 2012, the Zimbabwean Grain Marketing Board (GMB) expected a $51 million USD loan facility from the Chinese government (See: China,South Africa,Zimbabwe : GRAIN MARKETING BOARD expects $51 million loan facility from government). The GMB had requested the loan in February 2012 (See: China,South Africa,Zimbabwe : GRAIN MARKETING BOARD expects $51 million loan facility from government). The funding is targeted at silo rehabilitation which will cost $31 million USD; $13 million USD will be channeled towards establishing a logistics fleet; and $7 million USD will go towards development of ICT infrastructure (See: US$51 Million Needed For Recapitalisation Of Zimbabwe's Strategic Grain Reserve). This loan facility does not appear to have ever materialized.

Number of official sources

0

Number of unofficial sources

3

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Details

Cofinanced

No

Receiving agencies [Type]

Zimbabwe Grain Marketing Board (GMB) [State-owned Company]

Loan type

No Information

Gurarantee provided

No

Insurance provided

No