Chinese Government provides RMB 100 million interest-free loan for mineral exploration (Linked to Project ID#36134)
Commitment amount
$ 17967927.365801416
Adjusted commitment amount
$ 17967927.37
Constant 2021 USD
Summary
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Recipient
Sudan
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
On December 21, 2014, the Chinese Government and the Government of Sudan signed an RMB 100 million interest-free loan agreement. The agreement was signed at the Ministry of Finance and National Economy. Badr Eddin Mahmoud, Sudan's Minister of Finance and National Economy, said the agreement reflected the firm relations linking Sudan and China, and that it stood as model to be copied for the South-South Cooperation. Badr Eddin Mahmoud explained that the two countries would focus on minerals, mainly oil and gold, exploration, and Sudan would invite China to further increase its investment in these fields. In addition, as part of the agreement, an RMB 150 million grant agreement was signed (as captured via Project ID#36134).
Additional details
This loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020.
Number of official sources
1
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Sudan [Government Agency]
Loan Details
Interest rate
0.0%