Chinese Government provides RMB 20 million interest-free loan for acquisition of office supplies and agricultural equipment (Linked to Project ID#55607 and ID#86586)

On March 11, 2004, the Chinese Government provided a RMB 20 million interest-free loan to the Government of the Central African Republic to facilitate its acquisition of office supplies and agricultural equipment. This loan carried the following terms: a 20 year maturity, a 10 year grace period, and a 0% interest rate. It also provided an RMB 12 million general budget support grant to help it pay salary arrears owed to civil servants (as captured via Project ID#55607). The RMB 20 million loan was forgiven in June 2019 (as captured via Project ID#86586).

Additional details

1. Some sources (including SAIS-CARI) suggest that the proceeds from this loan were used to pay civil servant salaries. However, AidData relies on an official source (AFDB), which reports that the Chinese Government provided an RMB 20 million interest free loan in 2004 for the acquisition of office supplies and agricultural equipment and a separate RMB 12 million general budget support grant in 2004 to help the government pay salary arrears to civil servants.

Number of official sources

3

Number of total sources

9