Chinese Government provides $50 million for establishing the China-World Bank Group Partnership Facility
Commitment amount
$ 56113778.47894762
Adjusted commitment amount
$ 56113778.48
Constant 2021 USD
Summary
Funding agency [Type]
China Ministry of Finance [Government Agency]
Recipient
Multi-Region
Sector
Other multisector (Code: 430)
Flow type
Grant
Infrastructure
No
Category
Project lifecycle
Description
On 16 July 2015, the Chinese Minister of Finance and President of the World Bank signed an agreement establishing the China-World Bank Group Partnership Facility. China provided $50 million to three World Bank entities: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), and the International Finance Corporation (IFC). Under this agreement, China deposited funds into World Bank bank accounts as follows: $10 million USD by 31 October 2015, $20 million USD by 31 October 2016, and $20 million USD by 31 October 2017. The purpose of this special trust fund was to finance activities in four different categories: (1) Investment Projects and Operations, (2) Knowledge Development and South-South Learning, (3) Human Resources Cooperation, and (4) Finance for Global and Regional Programs.
Additional details
1. AidData assumes that this contribution was made in the form of a grant. However, this issue warrants further investigation.
Number of official sources
2
Number of total sources
2
Details
Cofinanced
No
Direct receiving agencies [Type]
International Bank for Reconstruction and Development (IBRD) [Intergovernmental Organization]
International Development Association (IDA) [Intergovernmental Organization]
International Finance Corporation (IFC) [Intergovernmental Organization]