Project ID: 34733

Chinese Government pledges USD $100 million loan for Coconut Community Development Project

Pledged amount

$ 197696085.4

Constant 2017 USD

Not recommended for aggregates

This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.

Summary

Funding agency [Type]

Unspecified Chinese Government Institution [Government Agency]

Recipient

Philippines

Sector

Agriculture, forestry, fishing (Code: 310)

Flow type

Loan

Concessional

Vague

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Pledge (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2004

2004-03-01

Planned implementation start

Description

In early March 2004, the China National Technical Import and Export Corp (CNTIC) and the Philippine Coconut Authority signed a MoU for a soft loan of USD $100 million, which would have the Chinese government to provide for a coconut community development project in Bicol, Luzon. The project was to include the development of 400,000 hectares of coconut land in Albay, Camarines Norte, Camarines Sur, Masbate and Sorsogoon to facilitate the production of geotextile, coco peat and other high-value coconut products for commercial production and export to markets such as China. The loan accord allocated 40 million USD for farm inputs like fertilizers, 40 million USD for machineries and equipment for activated carbon and coco coir processing facilities, 15 million USD for developing hybrid seeds for coconut intercropping, and 5 million USD for technical services. Details of the loan and the current status of this project are unknown.

Number of official sources

1

Number of unofficial sources

2

Download the dataset

Details

Cofinanced

No

Receiving agencies [Type]

Philippine Coconut Authority [Government Agency]

Implementing agencies [Type]

China National Technical Import and Export Corporation (CNTIC) [State-owned Company]

Loan type

No Information

Gurarantee provided

No

Insurance provided

No