Chinese Government converts $75 million USD loans to Afghanistan into grants (linked to #34498)
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Umbrella project
This project is classified as an "umbrella" project, and is connected to related projects.
Summary
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Recipient
Afghanistan
Sector
Unallocated/unspecified (Code: 998)
Flow type
Grant
Concessional
Yes
Category
Project lifecycle
Description
In 2002, the Chinese Government made a commitment to provide the Government of Afghanistan with $150 million (captured in #34498). Half of this amount was to be provided in grant funding and the other half was to be provided via concessional loans. Then, in March 2009, the Chinese Government announced that it had decided to amend its previous commitment in 2002 and provide the $75 million that it had previously planned to provide as a concessional loan in the form of a grant.In 2010, Yang Jiechi announced that total 15 million USD of the aid was disbursed in 2009 with the remaining 60 million USD to be given by the end of 2013.
Additional details
It is unclear whether the conversion of loans into grants was ever formally codified; therefore, this project has been status-coded as Pipeline: Pledge for the time being.
Number of official sources
2
Number of unofficial sources
10
Details
Cofinanced
No
Receiving agencies [Type]
Government of Afghanistan [Government Agency]