Chinese Government provides RMB 30 million interest-free loan — via March 2004 ETCA — for the production of hydro turbine and generators (linked to project #64759)
Commitment amount
$ 8255428.303088582
Adjusted commitment amount
$ 8255428.3
Constant 2021 USD
Summary
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Recipient
Myanmar
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
On March 24, 2004, the Chinese Government provided an RMB 200 million interest-free loan (captured in 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 30 million of the loan proceeds to support the production of hydro turbine and generators.
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 Industry [Government Agency]
Loan Details
Maturity
20 years
Interest rate
0.0%
Grace period
10 years
Grant element (OECD Grant-Equiv)
71.6021%