MOFCOM provides $1.8 million interest-free loan for Container Scanner System Project

In 2002, the Chinese Government provided an interest-free loan worth approximately $1.8 million to the Government of Djibouti for a Container Scanner System Project. Hualixing Sci-Tech Development Co., Ltd. (北京华力兴科技发展有限责任公司的) — also known as TC-Scan — signed an implementation contract on June 12, 2002 in Beijing. A launching ceremony for the container scanner system was held on March 5, 2003, and during the ceremony, Hualixing Sci-Tech Development Co., Ltd.'s TC-SCAN container inspection system was officially put to use in the Port of Djibouti. Minister Hassan Houmed Ibrahim of Djibouti and President Liu Bin of Hualixing Sci-Tech Development Co., Ltd signed a project handover certificate on behalf of both parties.

Additional details

1. The loan that supported this project is not included in the SAIS-CARI database of Chinese loan commitments that was released in July 2020. 1. Since the borrowing terms of the interest-free loan are unavailable, AidData has set the maturity to 20 years by default and grace period to 10 years by default per China's Foreign Assistance White Paper (http://www.cidca.gov.cn/2018-08/06/c_129925064_3.htm) which states that the maturity period of interest-free loans is 20 years, with a drawdown period of 5 years, grace period of 5 years, and repayment over 10 years. AidData treats the drawdown period as providing 5 years of additional grace. 3. The Chinese project title is TC-SCAN集装箱检测系统在吉布提. The French project title is Systeme de Controle des Conteneurs de TC-SCAN MSV.

Number of official sources

4

Number of total sources

4