Chinese Government provides RMB 50 million interest-free loan for procurement of railway tracks from China

In July 2004, the Chinese Government provided an RMB 50 million interest-free loan to the Government of Myanmar for the procurement of railway tracks from China. The agreement was reached when Lieutenant General Khin Nyunt visited China. According to China’s Ministry of Commerce, Henan Cereals, Oils & Foodstuffs Import & Export Group was the contractor responsible for project implementation. This company was contracted for the project in December 2004.

Additional details

1. One source puts the face value of the loan are RMB 49.96 million rather than RMB 50 million. 2. 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. 3. The Chinese project title is 缅甸钢轨项目.

Number of official sources

1

Number of total sources

4