China Eximbank provides $234.7 million loan to the Government of Ethiopia for unspecified purposes
Commitment amount
$ 326965488.89991444
Adjusted commitment amount
$ 326965488.9
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Ethiopia
Sector
Unallocated/unspecified (Code: 998)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
On December 30, 2010, the Government of Ethiopia signed a $234,766,400 loan agreement with the Export-Import Bank of China for unspecified purposes. The loan carried the following borrowing terms: an interest rate of 3.067%, a grace period of 4 years, and maturity of 11 years.
Additional details
1. This loan may have supported the Gilgel Gibe III Hydropower Project, which was supported by a 2010 loan from ICBC (see Project ID#34447). The borrowing terms of this China Eximbank loan and the borrowing terms ICBC loan are identical: an interest rate of 3.067%, a grace period of 4 years, and maturity of 11 years. However, it is also possible that this loan supported Ethiopian Shipping Lines (see Project ID#58924). This issue warrants further investigation.
Number of official sources
3
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Ethiopia [Government Agency]
Loan Details
Maturity
11 years
Interest rate
3.067%
Grace period
4 years
Grant element (OECD Grant-Equiv)
30.4294%