Project ID: 588

Chinese Government provides $6 million interest-free loan for food security

Commitment amount

$ 8356361.614777442

Adjusted commitment amount

$ 8356361.61

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Eritrea

Sector

Developmental food aid/food security assistance (Code: 520)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2010-09-04

Description

On September 4, 2010, the Chinese Government and the Government of Eritrea signed a $6 million interest-free loan agreement. The proceeds of the loan were earmarked for food security activities. Mr Berhane Abrehe, minister of finance, signed the agreement on the Eritrean government side, and deputy foreign minister, Zhai Jun, on the side of the government of the PRC. The implementation status of this loan is unknown

Number of official sources

2

Number of total sources

6

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Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Eritrea [Government Agency]

Implementing agencies [Type]

Government of Eritrea [Government Agency]

Loan Details

Interest rate

0.0%

Bilateral loan

Interest-free loan