Project ID: 95659

CDB grants principal and interest payment deferral to Government of Zambia in October 2020

Summary

Funding agency [Type]

China Development Bank (CDB) [State-owned Policy Bank]

Recipient

Zambia

Sector

Action relating to debt (Code: 600)

Flow type

Debt rescheduling

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Commercial (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2020-10-27

Description

On October 27, 2020, the Government of the Republic of Zambia announced that it reached an agreement with China Development Bank (CDB) to defer debt service on a Sinosure-backed commercial loan facility. Under the terms of the agreement with CDB, interest and principal due on October 25, 2020 was deferred. The deferred interest payment was made payable on April 25, 2021 and the deferred principal was rescheduled over the life of the facility. The debt involved in the deal amounts to $391 million.

Number of official sources

4

Number of total sources

12

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Zambia [Government Agency]

Loan Details