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Overview

Chinese Government pledges $60 million loan for Agricultural Development Project

Commitments (Constant USD, 2023)$99,693,872
Commitment Year•2007Country of Activity•Guinea-BissauDirect Recipient Country of Incorporation•Guinea-BissauSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2007

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

  • Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

  • Government of Guinea-Bissau

Implementing agencies

Government Agencies

  • Guinea-Bissau Ministry for Foreign Affairs & International Cooperation

Loan desecription

Chinese Government pledges $60 million loan for Agricultural Development Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In January 2007, China's Foreign Minister Li Zhaoxing visited Guinea-Bissau for cooperation talks and met with Antonio Isac Monteiro. At the time, Guinea-Bissau’s Foreign Ministry reported that the Chinese Government planned to issue a $60 million loan to the Government of Guinea-Bissau for the following agricultural season. In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it identified a $60 million Chinese Government loan commitment for an Agricultural Development Project and it claims that this project was completed. However, in June 2018 email correspondence between AidData’s Executive Director, the Director General of the Office of the Secretary of State for Planning and Regional Integration in Guinea-Bissau did not confirm receipt of any such loan. Nor has AidData has identified any other official sources that corroborate the receipt of such a loan (i.e. the signing of a loan agreement on a specific date). Also, as of November 2020, there was no evidence in the World Bank Debtor Reporting System that the Government of Guinea-Bissau has any outstanding debt obligations to the Chinese Government.