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Overview

Chinese Government provides RMB 150 million interest-free loan — via ETCA — for unspecified purposes

Commitments (Constant USD, 2023)$24,966,775
Commitment Year•2014Country of Activity•KenyaDirect Recipient Country of Incorporation•KenyaSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
May 10, 2014
First repayment (originally scheduled)
May 7, 2024
Last repayment (originally scheduled)
May 5, 2033

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 Kenya

Loan description

Chinese Government provides RMB 150 million interest-free loan — via ETCA — 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 May 10, 2014, the Chinese Government and the Government of Kenya signed an Economic and Technical Cooperation Agreement (ECTA), which committed an RMB 150 million interest-free loan for unspecified purposes. The loan carries the following borrowing terms: a 10-year grace period, a 19-year maturity (June 1, 2033), and a 0% interest rate. According to the Government of Kenya’s External Public Debt Register, the borrower made no principal repayments between July 1, 2020 and June 30, 2022 (Fiscal Year 2020-2021 and Fiscal Year 2021-2022). The loan’s amount outstanding was RMB 8,530,000 as of June 30, 2020, RMB 8,530,000 as of June 30, 2021, and RMB 8,530,000 as of June 30, 2022.

Staff comments

1. Given that the loan either fully or partially disbursed but it is not known how these loan proceeds were utilized, AidData has set the umbrella field to False. 2. The loan identification number in the Government of Kenya’s External Public Debt Register is 2014010_1. 3. The grace period of the loan is unknown. For the time being, AidData assumes a grace period of 10 years given standard borrowing terms for interest-free loans from MOFCOM include a 10 year grace period. 4. The amounts outstanding and repayments data are drawn from the Kenyan Treasury’s External Public Debt Register. See https://www.dropbox.com/s/549ixt2gj1jbjvi/External-Public-Debt-Register-as-at-End-June-2022.pdf?dl=0 and https://www.dropbox.com/s/0et4jg1qfg1bo7r/External-Public-Debt-Register-as-at-End-June-2021.pdf?dl=0 and https://www.dropbox.com/s/233j706743q7f1g/External-Public-Debt-Register-as-at-End-June-2020.pdf?dl=0 and https://www.dropbox.com/s/qkoybr9ja0ohemy/External-Public-Debt-Register-as-at-End-June-2009.pdf?dl=0 and https://www.dropbox.com/s/thy3s6ggjcjd97z/External-Public-Debt-Register-as-at-End-June-2012.pdf?dl=0 and https://www.dropbox.com/s/fzbfq01vas6m0i9/External-Public-Debt-Register-as-at-End-June-2019.pdf?dl=0 and https://www.dropbox.com/s/ennrl6d4zd2nizs/External-Public-Debt-Register-as-at-End-June-2018.pdf?dl=0 and https://www.dropbox.com/s/8ibazrj1a8oho2d/External-Public-Debt-Register-as-at-End-June-2017.pdf?dl=0 and https://www.dropbox.com/s/wdbjl0wq49i09x1/External-Public-Debt-Register-as-at-End-June-2015.pdf?dl=0