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Overview

Chinese Government provides a RMB 30 million interest-free loan — via a 2001 ETCA — for the import of goods and services

Commitments (Constant USD, 2023)$8,417,832
Commitment Year•2001Country of Activity•GeorgiaDirect Recipient Country of Incorporation•GeorgiaSector•General Budget SupportFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2001
First repayment (originally scheduled)
Dec 29, 2012
Last repayment (originally scheduled)
Aug 24, 2021

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

  • Ministry of Finance of Georgia

Implementing agencies

Government Agencies

  • Ministry of Finance of Georgia

Loan description

Chinese Government provides a RMB 30 million interest-free loan — via a 2001 ETCA — for the import of goods and services

Grace period•12 yearsGrant element•78.2368%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•20.66 years

Narrative

Full Description

Project narrative

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.

Staff comments

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.