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Overview

Chinese Government pledges RMB 20 million interest-free loan for Phase 1 of Rose-Belle Construction Project

Commitments (Constant USD, 2023)$5,083,376
Commitment Year•2004Country of Activity•MauritiusDirect Recipient Country of Incorporation•MauritiusSector•Other Social Infrastructure And ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 1, 2004
First repayment
Dec 29, 2013
Last repayment
Dec 27, 2023

Stakeholders

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

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

Government Agencies

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Government of Mauritius

Loan desecription

Chinese Government pledges RMB 20 million interest-free loan for Phase 1 of Rose-Belle Construction Project

Grace period•10 yearsGrant element•75.0516%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

On May 28, 2004, China’s Ministry of Commerce agreed to provide an RMB 20 million interest-free loan to partially finance Phase 1 of the Rose-Belle Construction Project. This project involved the construction of a new market, market fair, auction market, and traffic center in Rose-Belle. The overall project cost was Rs 125 million and it was to be jointly financed by the Chinese Government and the Government of Mauritius. However, AidData has not identified any evidence that Chinese government funding was ultimately used to support this project.

Staff comments

Since loan terms for the interest-free loan are unavailable, AidData has set maturity period to 20 years by default and grace period to 10 years by default per China's Foreign Assistance White Paper (http://www.cidca.gov.cn/2018-08/06/c_129925064_3.htm) which states that the maturity period 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.