Overview

Chinese Government provides $4.8 million interest-free loan for Eiseb Block Farm Development Project (Linked to Record ID#61037)

Commitments (Constant USD, 2023)$6,762,596

Commitment Year•2008Country of Activity•NamibiaDirect Recipient Country of Incorporation•NamibiaSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2008

First repayment: Dec 29, 2017

Last repayment: Dec 27, 2027

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

Eiseb Block is a very remote part of Omaheke Province. More detailed locational information can be found at https://www.openstreetmap.org/node/5436007746.

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 Namibia

Loan desecription

Chinese Government provides $4.8 million interest-free loan for Eiseb Block Farm Development 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 2008, the Chinese Government provided a $4,801,459 interest-free loan to the Government of Namibia for the Eiseb Block Farm Development Project. This project supported the development of small-scale farms in Eiseb Block, which is is a very remote part of Omaheke Province. In three consecutive fiscal years (2008/09, 2009/10, and 2010/11), N$10,200,406 was reportedly allocated for the implementation of this project.

Staff comments

The loan does not appear to be included in the database of Chinese loan commitments that SAIS-CARI released in July 2020. Since loan terms for the interest-free loan are unavailable, AidData has set maturity period 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.