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Overview

MOFCOM provides RMB 50 million interest-free loan — via ETCA — to Cameroon's Ministry of Water Resources and Energy (MINEE) for unspecified purposes (Linked to Record ID#339)

Commitments (Constant USD, 2023)$9,500,083
Commitment Year•2010Country of Activity•CameroonDirect Recipient Country of Incorporation•CameroonSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Mar 24, 2010
Start (planned)
Mar 24, 2010
End (planned)
Dec 31, 2013
First repayment (originally scheduled)
Mar 21, 2020
Last repayment (originally scheduled)
Mar 19, 2029

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

Government Agencies

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Cameroon Ministry of Water Resources and Energy (MINEE)

Implementing agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Loan description

MOFCOM provides RMB 50 million interest-free loan — via ETCA — to Cameroon's Ministry of Water Resources and Energy (MINEE) for unspecified purposes

Grace period•10 yearsGrant element•74.0283%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•19 years

Narrative

Full Description

Project narrative

On March 24, 2010, China's Ministry of Commerce (MOFCOM) and Cameroon's Ministry of Water Resources and Energy (MINEE) signed an Economic and Technical Cooperation Agreement (ETCA), which committed an RMB 50 million loan for unspecified purposes. The loan carried the following borrowing terms: a 0% interest rate, a 10-year grace period, and a 19-year maturity. As of December 31, 2020, the loan had achieved a 99.5% disbursement rate.

Staff comments

1. MOFCOM is the funder but the interest-free loan proceeds were to be disbursed through a CDB account established with a host country bank. 2. MOFCOM issued an RMB 50 million grant to the Government of Cameroon on March 24, 2010 (captured via Record ID#339).