China and Burundi signed 2 million USD Economic and Technical Cooperation Agreement (ETCA) (linked to #12298)

On January 9th, 2008, Chinese Foreign Minister Yang Jiechi and Burundi Foreign Minister Antoinette Batumubwira signed an Economic and Technical Cooperation Agreement for 2 million USD. The interest-free loan provided by the Chinese government will be used for Chinese-funded construction projects in Burundi, to support the government's economic revitalization and social development plan, and to help Burundi enhance its independent development capacity. According to the Chinese Embassy in Burundi, the ETCA was mainly used to fund the construction of a hospital (#12298).

Additional details

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

5

Number of unofficial sources

2