Active Development AidData Chinese Aid

Chinese Government pledges RMB 20 million interest-free loan for unspecified purposes

¥20M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Serbia
Country	Serbia
Start Date	Dec 02, 2000
End Date	Oct 24, 2031
Duration	11,283 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`42392`

Grant Description

Chinese Government pledges RMB 20 million interest-free loan for unspecified purposes On December 3, 2000, Tang Jiaxuan, China's foreign minister laid a wreath at the ruins of the Chinese embassy destroyed by NATO bombs and denounced the West for 'double standards' over human rights.

U.S. jets struck the Chinese embassy on May 7, 1999, during the 78-day NATO bombing of Yugoslavia, causing three deaths and 27 injuries.

Tang arrived for the first high-level visit by a Chinese official since the fall of the Milosevic regime in October 2000 and the rise to power of democratically elected President Vojislav Kostunica.

On December 2, Yugoslavia's foreign minister, Goran Svilanovic, said Tang Jiaxuan promised RMB 20 million ($2.4 million) in aid (in the form of an interest-free loan) to the new government and promised to support Belgrade's entry into international organizations.

Also, in a statement following a meeting between Yugoslavia's deputy prime minister, Miroljub Labus, and Tang Jiaxuan, Labus said that China remained Yugoslavia's 'strategic partner’ and it promised not to press Yugoslavia to repay the ‘millions of dollars’ that it owes China.

📋 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

Joint Communiqué between the People's Republic of China and the Federal Republic of Yugoslavia
Newsline - December 4, 2000
Chinese Official Visits Belgrade 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.