Chinese Government provides a RMB 30 million interest-free loan — via a 2001 ETCA — for the import of goods and services
Commitment amount
$ 9113782.005103817
Adjusted commitment amount
$ 9113782.01
Constant 2021 USD
Summary
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Recipient
Georgia
Sector
Trade policies and regulations (Code: 330)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
According to July 2018 email correspondence between Georgia’s Ministry of Finance and AidData, on April 31, 2001 the Chinese Government and the Government of Georgia signed a provided an Economic and Technical Cooperation Agreement (ETCA) in which the Chinese Government loaned RMB 30 million to the Government of Georgia. The loan carried the following terms: a maturity of 20.66 years, a grace period of 12 years, and an interest rate of 0%. The final maturity date of the loan was January 5, 2022. The proceeds of the loan were to be used by the borrower to facilitate the import of goods and services.
Additional details
1. Based on the involvement of China's Ministry of Commerce in interest-free loans and ETCAs, AidData assumes that it was the ultimate source of financing for the project.
Number of official sources
2
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Ministry of Finance of Georgia [Government Agency]
Implementing agencies [Type]
Ministry of Finance of Georgia [Government Agency]
Loan Details
Maturity
21 years
Interest rate
0.0%
Grace period
12 years
Grant element (OECD Grant-Equiv)
66.3434%