China Eximbank provides $514.9 million buyer's credit loan for Equipment Acquisition Project

On March 20, 2008, the Export-Import Bank of China and the Government of Morocco signed a $514,963,678 buyer's credit loan agreement for an Equipment Acquisition Project. The estimated borrowing terms of the loan include a 16.75-year maturity, a 4.25-year grace period, and an interest rate of 4.9%. The agreement was approved by the Government of Morocco on May 7, 2008 (via Décret n° 2-08-225).

Additional details

1. The face value of the loan is identified by the Bank Al-Maghrib (the central bank of the Kingdom of Morocco) and the World Bank's Debtor Reporting System (DRS). See https://www.dropbox.com/scl/fi/xmhkg6e64kxk8c7jtjrxy/DRS-Official-Commitments-from-China-Through-2021.xlsx?rlkey=b4k8u2mg72dd65do8bx5ena53&dl=0 and https://www.bkam.ma/content/download/344785/2923781/BT116_juin.pdf and https://www.dropbox.com/s/66eoeih2gqw1np4/BT116_juin%20%281%29.pdf?dl=0 2. According to the World Bank's Debtor Reporting System (DRS), the weighted average maturity of all official sector lending from Chinese creditors to government and government-guaranteed borrowing institutions in Morocco was 16.75 years in 2008. AidData estimates the maturity of the China Eximbank loan that supported the Government of Morocco by using this figure. See https://www.dropbox.com/s/949n5rctiue6d7c/IDS_Average_grace_period_and_maturity_on_new_external_debt_commitments.xlsx?dl=0 3. According to the World Bank's Debtor Reporting System (DRS), the weighted average grace period of all official sector lending from Chinese creditors to government and government-guaranteed borrowing institutions in Morocco was 4.25 years in 2008. AidData estimates the grace period of the China Eximbank loan that supported the Government of Morocco by using this figure. See https://www.dropbox.com/s/949n5rctiue6d7c/IDS_Average_grace_period_and_maturity_on_new_external_debt_commitments.xlsx?dl=0 4. According to the World Bank's Debtor Reporting System (DRS), the weighted average interest rate of all official sector lending from Chinese creditors to government and government-guaranteed borrowing institutions in Morocco was 4.9% in 2008. AidData estimates the interest rate of the China Eximbank loan that supported the Government of Morocco by using this figure. See https://www.dropbox.com/s/ab8qt4n6jijcbhd/IDS_Average%20interest%20on%20new%20external%20debt%20commitments.xlsx?dl=0 5. The French project title is l’acquisition d’équipements. 6. This loan is not included in the SAIS-CARI database of Chinese loan commitments that was released in 2020 and re-released in 2021. Nor is it included in the China's Overseas Development Finance Database published by Boston University's GDP Center.

Number of official sources

2

Number of total sources

4