Overview

MOFCOM provides RMB 50 million interest-free loan in November 2009 for unspecified purposes

Commitments (Constant USD, 2023)$10,153,822

Commitment Year•2009Country of Activity•CameroonDirect Recipient Country of Incorporation•CameroonSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 5, 2009

First repayment (originally scheduled): Nov 3, 2019

Last repayment (originally scheduled): Oct 31, 2028

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

China Ministry of Commerce

Receiving agencies

Government Agencies

Government of Cameroon

Loan description

MOFCOM provides RMB 50 million interest-free loan in November 2009 for unspecified purposes

Grace period•10 yearsGrant element•74.0283%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•19 years

Narrative

Full Description

Project narrative

On November 5, 2009, China's Ministry of Commerce (MOFCOM) and the Government of Cameroon signed an Economic and Technical Cooperation Agreement (ETCA), which committed an RMB 50 million loan for unspecified purposes. The loan carried the following borrowing terms: a 0% interest rate, a 10-year grace period, and a 19-year maturity. As of December 31, 2020, the loan had achieved a 46.4% disbursement rate.

Staff comments

1. This loan is not included in the Chinese Loans to Africa Database developed by SAIS-CARI and maintained by the Global Development Policy Center at Boston University.