Overview

Chinese Government extends the repayment period of an interest-free loan by 5 years

Commitment Year•2017Country of Activity•LebanonDirect Recipient Country of Incorporation•LebanonSector•Action Relating To DebtFlow Type•Debt rescheduling

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 16, 2017

Start (actual): Mar 16, 2017

End (actual): Mar 16, 2017

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

Government Agencies

China Ministry of Commerce

Receiving agencies

Government Agencies

Lebanese Council for Development and Reconstruction (CDR)

Loan description

Chinese Government extends the repayment period of an interest-free loan by 5 years

Interest rate (t₀)•0%Interest type•Fixed Interest Rate

Narrative

Full Description

Project narrative

On March 16, 2017, the Chinese Government and the Lebanese Council for Development and Reconstruction (CDR) signed an exchange of letters to extend the repayment period of a previously contracted interest-free loan by 5 years. The specific interest-free loan associated with this debt restructuring is unknown.

Staff comments

As China's Ministry of Commerce (MOFCOM) is responsible for the vast majority of China's interest-free loans, AidData has assumed that it was the Chinese Government institution that provided the original loan and thus was responsible for its later restructure.