Active Development AidData Chinese Aid

Chinese government provides $2.2 million USD interest-free loan via Economic and Technical Cooperation Agreement (Linked to TUFF Record ID#71571 and ID#101650)

¥2.2M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Sri Lanka
Country	Sri Lanka
Start Date	Jan 01, 2000
End Date	Jun 15, 2033
Duration	12,219 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`33183`

Grant Description

Chinese government provides $2.2 million USD interest-free loan via Economic and Technical Cooperation Agreement In 2000, the Chinese government signed two Economic and Technical Cooperation Agreements (ETCA) with the Government of Sri Lanka providing interest-free loans for unspecified purposes at the time of signing.

The first loan was valued at USD $2.2 million, or 20 million RMB (captured via TUFF Record ID#33183) while the second was valued at USD $5.8 million, or 50 million RMB (captured via TUFF Record ID#101650).

Then, on July 8, 2004, the Chinese Government and the Government of Sri Lanka signed an RMB 100 million ($10,857,433) interest-free loan agreement for the National Performing Arts Theater Project (captured via Record ID#71571).

The loan proceeds were drawn from three Economic and Technical Cooperation Agreements (ETCAs) worth RMB 20 million, RMB 30 million, and RMB 50 million that were signed on February 23, 2000, July 30, 2022, and February 11, 2003, respectively. It is likely that the loan captured via TUFF Record ID#33183 is the 20 million RMB loan used to support this project.

📋 Staff Comments

1. 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

FOREIGN AID REVIEW SRI LANKA 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.