Overview

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 Record ID#64759)

Commitments (Constant USD, 2023)$15,250,129

Commitment Year•2004Country of Activity•MyanmarDirect Recipient Country of Incorporation•MyanmarSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 24, 2004

Start (planned): Mar 24, 2004

First repayment: Dec 29, 2013

Last repayment: Dec 27, 2023

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

Government Agencies

China Ministry of Commerce

Receiving agencies

Government Agencies

Myanmar Ministry of Agriculture, Animal Husbandry, and Irrigation

Loan desecription

Chinese Government provides RMB 60 million interest-free loan to Myanmar— via March 2004 ETCA — for acquisition and installation of 200 electric water pumps

Grace period•10 yearsGrant element•75.0516%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

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 Record ID#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.

Staff comments

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.