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Overview

China provides 300 million Br interest-free loan for construction of road from Gotera interchange to AU Headquarters (Linked to Record ID#59899)

Commitments (Constant USD, 2023)$16,571,982
Commitment Year•2013Country of Activity•EthiopiaDirect Recipient Country of Incorporation•EthiopiaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2013
First repayment
Dec 31, 2017
Last repayment
Dec 27, 2032

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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This road is located in Addis Ababa. It runs from the Gotera Interchange to the African Union headquarters (coordinates: 9.0002°N 38.7446°E). More detailed locational information can be found at https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=8.9817%2C38.7601%3B8.9970%2C38.7440#map=15/8.9894/38.7520

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 Ethiopia

Loan desecription

China provides 300 million Br interest-free loan for construction of road from Gotera interchange to AU Headquarters

Grace period•5 yearsGrant element•66.7839%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

In May 2013, the Chinese Government provided a 300 million Birr interest free loan to Ethiopia for the design and study of the road from Gotera interchange to the African Union Headquarters in Addis Ababa City as well as to expand Tirunesh Dibaba hospital and equip it with the necessary materials (#59899). According to Finance and Economic Development State Minister Ahmed Shede, the loan will be paid back within 30-40 years. No further information on this specific loan was located, although improvements to the Gotera Interchange and Tirunesh Dibaba hospital were made in 2006 and 2011, respectively. This road is located in Addis Ababa. It runs from the Gotera Interchange to the African Union headquarters (coordinates: 9.0002°N 38.7446°E).

Staff comments

AidData is unable to verify the claim that the loan will be paid back in 30-40 years. The maturity period has been set to 20 years by default and grace period set to 5 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 usually 20 years - drawdown period of 5 years, grace period of 5 years, and repayment over 10 years.