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Overview

Chinese Government provides RMB 50 million interest-free loan — via ETCA — for unspecified purposes

Commitments (Constant USD, 2023)$8,790,215
Commitment Year•2011Country 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
Jul 18, 2011
First repayment (originally scheduled)
Apr 1, 2021
Last repayment (originally scheduled)
Apr 1, 2031

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 50 million interest-free loan — via ETCA — for unspecified purposes

Grace period•10.5 yearsGrant element•76.2126%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•20.5 years

Narrative

Full Description

Project narrative

On July 18, 2011, the Chinese Government and the Government of Kenya signed an Economic and Technical Cooperation Agreement (ECTA), which committed an RMB 50 million interest-free loan for unspecified purposes. The loan carries the following borrowing terms: a 10.5-year grace period, a 20.5-year maturity, and a 0% interest rate. The loan was scheduled for repayment in semi-annual installments commencing on April 1, 2021 and ending on April 1, 2031. However, there is no evidence of the borrower making any repayments in 2021 or 2022. The loan’s amount outstanding was RMB 50 million as of June 30, 2020, RMB 50 million as of June 30, 2021, and RMB 50 million 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 2011018_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