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 Project ID#339)
Commitment amount
$ 10287400.847326782
Adjusted commitment amount
$ 10287400.85
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 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.
Additional details
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 Project ID#339).
Number of official sources
4
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
Cameroon Ministry of Water Resources and Energy (MINEE) [Government Agency]
Implementing agencies [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Loan Details
Maturity
19 years
Interest rate
0.0%
Grace period
10 years
Grant element (OECD Grant-Equiv)
61.8614%