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
Project lifecycle
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
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of the Central African Republic [Government Agency]
Loan Details
Interest rate
0.0%