Overview

Chinese Government provides $14 million interest-free loan for unspecified agricultural project

Commitments (Constant USD, 2023)$14,088,148

Commitment Year•2018Country of Activity•Guinea-BissauDirect Recipient Country of Incorporation•Guinea-BissauSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Sep 3, 2018

First repayment: Aug 31, 2028

Last repayment: Aug 29, 2038

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 Guinea-Bissau

Loan desecription

Chinese Government provides $14 million interest-free loan for unspecified agricultural 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 September 3-4, 2018, at the 2018 Forum on China-Africa Cooperation in Beijing, the Chinese Government and the Government Guinea-Bissau signed a USD $14 million interest-free loan agreement for an unspecified agricultural project.

Staff comments

1. The borrowing terms of the loan are unknown. For the time being, AidData assumes that the standard MOFCOM borrowing terms for an interest-free loan apply: 20 year maturity, 10 year grace period, and 0% interest. 2. In June 2018, the Chinese Government announced that it would provide a grant for the construction of an Agricultural School (with classrooms and residences and the capacity to accommodate 38 students) in the town of Caliquiesse. The Chinese ambassador to Guinea-Bissau, Jin Hongjun, noted in June 2018 that 16 Chinese technicians were already in Canchungo, 30 kilometers from Caliquisse, and they would provide training at the future school. It is unclear if this grant is related to the $14 million interest-free loan agreement. This issue warrants further investigation.