Project ID: 375

Chinese Government provides $1.9 million interest-free loan to CAR to pay civil servants and sort out its public finances (Linked to Project ID#378)

Commitment amount

$ 4628521.106719221

Adjusted commitment amount

$ 4628521.11

Constant 2021 USD

Summary

Funding agency [Type]

Unspecified Chinese Government Institution [Government Agency]

Recipient

Central African Republic

Sector

General budget support (Code: 510)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-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

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2003-11-10

Actual start

2003-09-01

Actual complete

2003-09-01

Description

In September 2003, the Chinese Government provided a $1.9 million interest-free loan to the Government of the Central African Republic to 'sort out public finances' and pay civil servant salaries. Chinese Ambassador to the Central African Republic Wang Ci Fa was present at the loan signing ceremony. Agence France Presse reported at the time that the transaction was denominated in CFA Francs. The project followed a $2.5 million grant in April 2003 (captured via Project ID#378), which allowed the Francois Bozize administration to pay one month of salary arrears inherited from his predecessor Ange-Felix Patasse, who was ousted in a March coup.

Number of official sources

1

Number of total sources

4

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of the Central African Republic [Government Agency]

Loan Details

Interest rate

0.0%

Bilateral loan

Foreign currency swap or Balance of payments loan

Interest-free loan

Rescue loan