Chinese Government provides RMB 20 million interest-free loan — via March 2004 ETCA — to support engine modification for vehicle use (Linked to Project ID#64759)

On March 24, 2004, the Chinese Government provided an RMB 200 million interest-free loan (captured via Project 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 Industry reportedly used RMB 20 million of the loan proceeds to support engine modification for vehicle use.

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