Active Development AidData Chinese Aid

China and Zimbabwe signs Economic and Technical Cooperation Agreement for 20 million RMB loan

¥20M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Zimbabwe
Country	Zimbabwe
Start Date	Aug 09, 2000
End Date	Jun 29, 2027
Duration	9,820 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`16239`

Grant Description

China and Zimbabwe signs Economic and Technical Cooperation Agreement for 20 million RMB loan On August 9, 2000, the Chinese government signed an Economic and Technical Cooperation Agreement with the Zimbabwean government for an interest-free loan worth 20 million RMB that would be disbursed to future projects to be decided upon during a three-year period beginning October 1, 2000.

During the signing of the agreement at the capital in Harare, Zimbabwe, the Chinese government was represented by Assistant Minister of Foreign Trade and Economic Cooperation He Xiaowei while the Zimbabwean government was represented by Minister of Finance and Economic Development Simba Makoni.

Additional research into organizations was involved and the actual start and finish of disbursement payments were unsuccessful.

📋 Staff Comments

Since loan terms for the interest-free loan are unavailable, AidData has set maturity period 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 period 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.

📚 Sources & References

http://english.people.com.cn/english/200008/10/eng20000810_47807.html
Zimbabwe gets interest-free loan from China. Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.