China commits RMB 100 million interest-free loan for unspecified projects (linked to ID#30224)

In 2011, the Chinese Government offered the Government of Uganda an interest-free loan wroth 100 million CNY to be used for projects that will be mutually agreed upon by both governments in the future. The signing ceremony took place in the Ministry of Finance boardroom and was attended by the Secretary to the Treasury, Mr. Chris Kassami and his deputy, Mr. Keith Muhakanizi. The current status and the specific use(s) of the loan are unknown. Another agreement for a 100 million CNY grant was signed at the same time (ID #30224).

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. 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