MOFCOM provides RMB 130 million grant - through economic and technical cooperation agreement (ETCA) - after floods (linked to #52286)

On January 29, 2015, the Chinese Government and the Government of Malawi signed two economic and technical cooperation (ETCA) agreements in the aftermath of the worst floods to hit the country since independence. This first agreement was an RMB 130 million (US$25 million) grant agreement and the second agreement was an RMB 50 million (US$8 million) interest-free loan. The proceeds from the interest-free loan and the grant (this project) were to be used to deal with the aftermath of the floods which had inundated nearly all the districts across the country. Malawi's Minister of Finance, Goodall Gondwe, said that the grant proceeds would be used to expand Thyolo Secondary School, renovate technical colleges, drill boreholes in various districts around the country, provide technical cooperation for Bingu National Stadium, and maintain the newly-constructed Parliament Building. It is unknown if the funds were ever disbursed, and if so when. However, the proceeds from this grant were likely used to support project ID#52324, project ID#57896.

Additional details

This project is linked to project #52286 (where China gives an interest-free loan to Malawi for school and borehole projects) --the RMB 50 interest-free loan that was also committed on January 29, 2015.

Number of official sources

1

Number of total sources

7