Project ID: 49951

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

Commitment amount

$ 13759047.171814304

Adjusted commitment amount

$ 13759047.17

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Myanmar

Sector

Transport and storage (Code: 210)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2004-08-06

Planned start

2004-07-01

Description

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

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Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Myanmar (Burma) [Government Agency]

Implementing agencies [Type]

Henan Cereals, Oils & Foodstuffs Import & Export Group Corp.,Ltd [State-owned Company]

Loan Details

Maturity

20 years

Interest rate

0.0%

Grace period

10 years

Grant element (OECD Grant-Equiv)

71.6021%

Bilateral loan

Interest-free loan

Investment project loan