Chinese Government provides RMB 150 million interest-free loan -- via 2007 ETCA -- for Levy Mwanawasa (Ndola) Stadium Construction Project

On July 2, 2007, the Government of Zambia and China's Ministry of Commerce (MOFCOM signed an economic and technical cooperation agreement (ETCA), which committed an RMB 150 million ($22 million) interest-free loan to the Government of Zambia. The borrowing terms of the loan included a 0% interest rate, 20-year maturity, and 10-year grace period. This loan was used to partially finance the Levy Mwanawasa (Ndola) Stadium Construction Project (see Project ID#56956 and #56960). On June 24, 2019, the Chinese Government announced that it would forgive the entirety of the RMB 150 million loan (as captured via Project ID#88356).

Additional details

1. This project is also known as the Ndola Stadium Construction Project. The Chinese project title is 恩多拉体育场. 2. Since the borrowing terms of the interest-free loan are unavailable, AidData has set the maturity 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 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

5