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

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).

Additional details

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.

Number of official sources

1

Number of unofficial sources

0