Chinese Government provides RMB 60 million interest-free loan for rural road upgrades and acquisition of equipment for rural district councils
Constant 2017 USD
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Transport and storage (Code: 210)
On 22 February, 2013, visiting Chinese Commerce Minister, Chen Deming, signed an agreement formally committing the China Ministry of Commerce's provision of a 60 million RMB (~$10 million USD) interest-free loan to the Zimbabwean Government for the purpose of purchasing road equipment for rural district councils (See: 'The then Chinese Minister of Commerce Chen Deming visited Zimbabwe on February 21 -24, 2013' and 'China Loans to Africa'). The current state of this project is unknown.This was one of four agreements signed on this day with the Zimbabwean Government in a move to further cement bilateral relations. The other three agreements include:Project #30650: A $2 million grant for agricultural equipment.Project #30639: A RMB 31.5 million grant to Zimbabwe Broadcasting Corporation for the provision of a broadcasting van.Project #30649: A pledge for a food aid donation.
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
Number of unofficial sources
Receiving agencies [Type]
Government of Zimbabwe [Government Agency]