Overview

Chinese Government pledges $5 billion for agriculture and housing projects

Commitments (Constant USD, 2023)$5,453,607,864

Commitment Year•2016Country of Activity•ZimbabweDirect Recipient Country of Incorporation•ZimbabweSector•Other MultisectorFlow Type•Grant

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 1, 2016

Start (planned): Jul 1, 2016

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

Government Agencies

Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

Government of Zimbabwe

Loan desecription

Chinese Government pledges $5 billion for agriculture and housing projects

Narrative

Full Description

Project narrative

In July 2016, the Chinese Government negotiated a $5 billion USD financial rescue package deal for Zimbabwe to fund agriculture and housing projects. The package allocates $4 billion USD to agriculture productivity and $1 billion USD to urban low-cost housing. The funding appears to be a grant from the Chinese Government, and the aid package was independent of any IMF conditions.