Chinese Government provides RMB 45 million interest-free loan to Tanzania for the 12th TAZARA Protocol (linked to #73168)
Commitment amount
$ 12383142.454632875
Adjusted commitment amount
$ 12383142.45
Constant 2021 USD
Summary
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Recipient
Tanzania
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
On November 5, 2004, the Chinese Ministry of Commerce signed an economic and technical cooperation agreement (ETCA) loaning RMB 45 million interest-free to the Government of Tanzania under the 12th TAZARA Protocol. The purpose of this loan was to support the ongoing operations and maintenance of TAZARA. The loan reportedly carried a 15-year maturity and a 10-year grace period. Tanzania and Zambia will draw down on the loan starting 2005 to 2009, while repayments start 2015 and end in 2019. This loan was part of a joint loan of $10.87 million USD (90 million Yuan) to Zambia and Tanzania to rehabilitate the Tanzania-Zambia Railway (TAZARA). Each country will receive $5.4 million USD (45 million Yuan), out of which $1 million USD would go towards the rehabilitation of TAZARA. The loan to Zambia is recorded in project #73168.
Number of official sources
1
Number of total sources
5
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Tanzania [Government Agency]
Implementing agencies [Type]
Tanzania-Zambia Railway Authority (TAZARA) [Intergovernmental Organization]
Loan Details
Maturity
15 years
Interest rate
0.0%
Grace period
10 years
Grant element (OECD Grant-Equiv)
65.6289%