MOFCOM provides RMB 100 million interest-free loan — via ETCA — for unspecified purposes
Commitment amount
$ 19024967.598843966
Adjusted commitment amount
$ 19024967.6
Constant 2021 USD
Summary
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Recipient
Cameroon
Sector
Unallocated/unspecified (Code: 998)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
On July 20, 2011, China's Ministry of Commerce (MOFCOM) and the Government of Cameroon signed an Economic and Technical Cooperation Agreement (ETCA), which committed an RMB 100 million interest-free loan for unspecified purposes. The borrowing terms of the loan were as follows: a 20 year maturity, an 11 year grace period, and a 0% interest rate. As of December 31, 2020, the loan had achieved a 37.2% disbursement rate (with an undisbursed balance of CFA 5.2 billion). The loan’s outstanding amount was equivalent to CFA 3.5 billion as of December 31, 2020.
Additional details
1. The ETCA can be accessed in its entirety via Source ID#104968 and https://www.documentcloud.org/documents/20485643-cmr_2011_518. 2. MOFCOM is the funder but the interest-free proceeds were to be disbursed through a CDB account established with a host country bank.
Number of official sources
5
Number of total sources
7
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Cameroon [Government Agency]
Implementing agencies [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Loan Details
Maturity
20 years
Interest rate
0.0%
Grace period
11 years
Grant element (OECD Grant-Equiv)
64.3564%