Chinese Government provides RMB 60 million interest-free loan to Myanmar— via March 2004 ETCA — for acquisition and installation of 200 electric water pumps (Linked to Project ID#64759)
Commitment amount
$ 16510856.606177164
Adjusted commitment amount
$ 16510856.61
Constant 2021 USD
Summary
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Recipient
Myanmar
Sector
Agriculture, forestry, fishing (Code: 310)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
On March 24, 2004, the Chinese Government and the Government of Myanmar signed an Economic and Technical Cooperation Agreement (ETCA), which committed an RMB 200 million interest-free loan for multiple projects (recorded in project #64759). The proceeds of the loan were used by various government ministries in Myanmar. The Ministry of Agriculture and Irrigation used RMB 60 million of the loan proceeds to facilitate the acquisition and installation of 200 electric water pumps, which is recorded in this project.
Additional details
1. Since the borrowing terms of the interest-free loan are unavailable, AidData has set the maturity to 20 years by default and grace period to 10 years by default p, er China's Foreign Assistance White Paper (http://www.cidca.gov.cn/2018-08/06/c_129925064_3.htm) which states that the maturity of interest-free loans is 20 years, with a drawdown period of 5 years, grace period of 5 years, and repayment over 10 years. AidData treats the drawdown period as providing 5 years of additional grace.
Number of official sources
0
Number of total sources
1
Details
Cofinanced
No
Direct receiving agencies [Type]
Myanmar Ministry of Agriculture, Animal Husbandry, and Irrigation [Government Agency]
Loan Details
Maturity
20 years
Interest rate
0.0%
Grace period
10 years
Grant element (OECD Grant-Equiv)
71.6021%