China Eximbank provides CFA 3.652 billion franc loan for Sorghum, Maize, and Rice Cultivation Project

In 2015, the Export-Import Bank of China and the Government of Togo signed a loan agreement worth CFA 3.652 billion francs ($6,174,967) for the Sorghum, Maize, and Rice Cultivation Project. The loan carried the following estimated borrowing terms: a 1.7806% interest rate, a 7.2732-year grace period, and a 19.7732-year maturity. The purpose of the project was to cultivate approximately 1,000 hectares of land for sorghum, maize, and rice cultivation. The project was intended to improve food security in Togo. Togo's Ministry of Agriculture, Livestock, and Fisheries was the beneficiary of the loan. The implementation status of this loan is unknown.

Additional details

1. The French project title is Projet d'exploitation de 1.000 hectares de sorgho, maïs et riz or Projet d'exploitation de 1000 Ha de sorgho maïs et riz. 2. The China Eximbank loan that supported this project was not included in the database of Chinese loan commitments that SAIS-CARI released in 2020 and re-released in 2021. However, it was recorded in a 2015 report published by the Bilateral Cooperation Department of Togo’s Ministry of Planning and Development and a 2015 report published by Togo’s Ministry of the Economy and Finance and Banque Ouest Africaine de Developpement (BOAD). 3. The estimated borrowing terms (maturity, grace period, and interest rate) of the loan are drawn from the World Bank's Debtor Reporting System (DRS). See https://www.dropbox.com/s/2sw4f7gluxa52fk/DRS%20Official%20Commitments%20from%20China%20Through%202021.xlsx?dl=0 and https://www.dropbox.com/s/ab8qt4n6jijcbhd/IDS_Average%20interest%20on%20new%20external%20debt%20commitments.xlsx?dl=0 and https://www.dropbox.com/s/949n5rctiue6d7c/IDS_Average_grace_period_and_maturity_on_new_external_debt_commitments.xlsx?dl=0

Number of official sources

4

Number of total sources

6