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Overview

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

Commitments (Constant USD, 2023)$4,155,454
Commitment Year•2002Country of Activity•DjiboutiDirect Recipient Country of Incorporation•DjiboutiSector•Trade Policies And RegulationsFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2002
Start (planned)
Jan 1, 2002
Start (actual)
Jun 12, 2002
End (actual)
Mar 5, 2003
First repayment (originally scheduled)
Dec 30, 2011
Last repayment (originally scheduled)
Dec 27, 2021

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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More detailed locational information can be found at https://www.openstreetmap.org/way/79799753

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 Djibouti

Implementing agencies

Private Sector

  • Hualixing Sci-Tech Development Co., Ltd. (北京华力兴科技发展有限责任公司的)

Loan desecription

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

Grace period•10 yearsGrant element•75.0516%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

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.

Staff comments

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.