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Overview

Chinese Government provides RMB 40 million interest-free loan — via ETCA — for unspecified purposes

Commitments (Constant USD, 2023)$7,600,067
Commitment Year•2010Country of Activity•KenyaDirect Recipient Country of Incorporation•KenyaSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Sep 24, 2010
First repayment (originally scheduled)
Aug 1, 2020
Last repayment (originally scheduled)
Aug 1, 2029

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 Kenya

Loan description

Chinese Government provides RMB 40 million interest-free loan — via ETCA — for unspecified purposes

Grace period•10 yearsGrant element•76.0173%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•21 years

Narrative

Full Description

Project narrative

On September 24, 2010, the Chinese Government and the Government of Kenya signed an Economic and Technical Cooperation Agreement (ECTA), which committed an RMB 40 million interest-free loan for unspecified purposes. The loan carries the following borrowing terms: a 10-year grace period, a 21-year maturity, and a 0% interest rate. The loan was scheduled for repayment in semi-annual installments commencing on August 1, 2020 and ending on August 1, 2031. The borrower made no repayments in between June 30, 2020 and June 30, 2022. The loan’s amount outstanding was RMB 13,500,000 as of June 30, 2020, RMB 13,500,000 as of June 30, 2021, and RMB 13,500,000 as of June 30, 2022.

Staff comments

1. Given that the loan either fully or partially disbursed but it is not known how these loan proceeds were utilized, AidData has set the umbrella field to False. 2. The loan identification number in the Government of Kenya’s External Public Debt Register is 2010024_1. 3. The amounts outstanding and repayments data are drawn from the Kenyan Treasury’s External Public Debt Register. See https://www.dropbox.com/s/549ixt2gj1jbjvi/External-Public-Debt-Register-as-at-End-June-2022.pdf?dl=0 and https://www.dropbox.com/s/0et4jg1qfg1bo7r/External-Public-Debt-Register-as-at-End-June-2021.pdf?dl=0 and https://www.dropbox.com/s/233j706743q7f1g/External-Public-Debt-Register-as-at-End-June-2020.pdf?dl=0 and https://www.dropbox.com/s/qkoybr9ja0ohemy/External-Public-Debt-Register-as-at-End-June-2009.pdf?dl=0 and https://www.dropbox.com/s/thy3s6ggjcjd97z/External-Public-Debt-Register-as-at-End-June-2012.pdf?dl=0 and https://www.dropbox.com/s/fzbfq01vas6m0i9/External-Public-Debt-Register-as-at-End-June-2019.pdf?dl=0 and https://www.dropbox.com/s/ennrl6d4zd2nizs/External-Public-Debt-Register-as-at-End-June-2018.pdf?dl=0 and https://www.dropbox.com/s/8ibazrj1a8oho2d/External-Public-Debt-Register-as-at-End-June-2017.pdf?dl=0 and https://www.dropbox.com/s/wdbjl0wq49i09x1/External-Public-Debt-Register-as-at-End-June-2015.pdf?dl=0