Overview

Chinese Government provides RMB 10.33 million interest-free loan — via March 2004 ETCA — to support an oxygen plant and buy spare parts for the iron and steel plants in Pyin Oo Lwin (linked to Record ID#64759)

Commitments (Constant USD, 2023)$2,625,564

Commitment Year•2004Country of Activity•MyanmarDirect Recipient Country of Incorporation•MyanmarSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 24, 2004

Start (planned): Mar 24, 2004

First repayment (originally scheduled): Dec 29, 2013

Last repayment (originally scheduled): Dec 27, 2023

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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This project supported iron and steel plants in Pyin Oo Lwin district within Mandalay Region. More detailed locational information can be found at: https://www.openstreetmap.org/relation/5996813

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

Ministry of Mines (Myanmar)

Loan description

Chinese Government provides RMB 10.33 million interest-free loan — via March 2004 ETCA — to support an oxygen plant and buy spare parts for the iron and steel plants in Pyin Oo Lwin

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 provided an RMB 200 million interest-free loan (captured in Record ID#64759) — through an Economic and Technical Cooperation Agreement (ETCA) — to the Government of Myanmar to support various projects and activities overseen by various government ministries. Myanmar’s Ministry of Mines reportedly used RMB 10.33 million of the loan proceeds to support an oxygen plant and buy spare parts for the iron and steel plants in Pyin Oo Lwin district within Mandalay Region.

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.