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

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.

Additional details

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.

Number of official sources

2

Number of total sources

3