Chinese Government pledge loan worth CFA 40 billion for Phase 5 of Rainfed Rice Project
Pledged amount
$ 77186287.92571303
Adjusted pledged amount
$ 77186287.92571303
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Unspecified Chinese Government Institution [Government Agency]
Recipient
Burkina Faso
Sector
Agriculture, forestry, fishing (Code: 310)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
According to the IMF, in 2019 China will loan Burkina Faso FCFA 40 billion for the fifth phase of the Rainfed Rice Project ("Projet de Développement de la Riziculture" or "Project Riz Pluvial"). Exact loan details are unknown at this time, but the 2018 IMF report states that the financing is concessional. Since 2001, Burkina Faso has implemented a program to increase the efficiency of production and production of rice, with the help of Taiwan. In 2018, Burkina Faso cut ties with Taiwan and established a diplomatic relationship with the People's Republic of China. Part of the agreement for the re-establishment of diplomatic ties was that China would agree to continue funding projects that Taiwan had been funding or had promised to fund.
Additional details
It is unclear whether the agreement has been fully negotiated yet or this is a pledge due to the fact that Taiwan has been funding phases of the same project since 2001.
Number of official sources
2
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Burkina Faso [Government Agency]
Implementing agencies [Type]
Burkina Faso Ministry of Agriculture and Food Security (MAAH) [Government Agency]