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Overview

Chinese Government provides RMB 215 million grant for purchase of MA60 aircraft as part of larger 'buy two get one free' deal

Commitments (Constant USD, 2023)$36,154,685
Commitment Year•2013Country of Activity•CameroonDirect Recipient Country of Incorporation•CameroonSector•Government And Civil SocietyFlow Type•Grant

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 11, 2013
End (actual)
Nov 8, 2012

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

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Cameroon Ministry of Economy, Planning, and Regional Development (MINEPAT)

Implementing agencies

Government Agencies

  • Government of Cameroon

State-owned companies

  • AVIC International Holding Corporation
  • Cameroon Airlines Corporation

State-owned Policy Banks

  • China Development Bank (CDB)

Loan description

Chinese Government provides RMB 215 million grant for purchase of MA60 aircraft as part of larger 'buy two get one free' deal

Narrative

Full Description

Project narrative

On November 11, 2013, the Chinese Government provided an RMB 215 million grant --- through China Development Bank -- to Cameroon's Ministry of Economy, Planning, and Regional Development (MINEPAT) for the purchase of an MA60 Chinese aircraft. This project was part of a "buy two get one free" deal in which the Chinese Government provided a RMB 215 million grant to the Government of Cameroon for the acquisition of one aircraft, and in return the Government of Cameroon agreed to borrow RMB 430 million from China Eximbank for the acquisition of two additional aircraft (see Record ID#35169). The grant-financed aircraft was delivered on November 8, 2012. The contractor was AVIC. These three aircraft were added to a fleet of aircraft maintained by the state-owned Cameroon Airlines Corporation. The aircraft’s reception ceremony took place on 8 November 2012, when it was handed over to Cameroon’s Air Force. In April 2015, Cameroon purchased two new MA 60 aircraft to strengthen Camair-Co’s fleet, the civilian state-owned airline of Cameroon.

Staff comments

An unknown part of the Chinese Government is the funder but the grant proceeds were disbursed through a CDB account that was established with a host country bank.