Active Mixed AidData Chinese Aid

Chinese Government provides RMB 50 million interest-free loan — via ETCA — for unspecified purpose

¥50M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Equatorial Guinea
Country	Equatorial Guinea
Start Date	Jan 01, 2019
End Date	Jan 22, 2030
Duration	4,039 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`91975`

Grant Description

Chinese Government provides RMB 50 million interest-free loan — via ETCA — for unspecified purpose On an unspecified date, the Chinese Government and the Government of Equatorial Guinea signed an Economic and Technical Cooperation Agreement (ECTA), which committed an RMB 50 million interest-free loan for unspecified purposes.

According to the Autonomous Fund for Amortization of Public Debt (Caja Autónoma de Amortización de la Deuda Pública) within Equatorial Guinea’s Ministry of Finance and Budget, this loan had disbursed RMB 36,052,800 as of December 31, 2019. The borrower had not made any principal or interest payments as of December 31, 2019.

As such, the loan's principal amount outstanding was RMB 36,052,800 as of December 31, 2019.

📋 Staff Comments

Since the borrowing terms of the interest-free loan are unavailable, AidData has set the maturity to 20-years by default and the 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 of interest-free loans is 20-years, with a drawdown period of 5-years, a grace period of 5-years, and repayment over 10-years.
The proceeds of this loan may have been used to support the Bata Ministry of Foreign Affairs Office Building Construction Project (captured via Record ID#62476). This issue warrants further investigation.
The loan agreement signing (commitment) date is unknown. For the time being, AidData has set the commitment year to 2019 (the year in which Equatorial Guinea’s Ministry of Finance and Budget published the disbursement information for the loan).
This MOFCOM interest-free loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020.

📚 Sources & References

List of Chinese loans published of Equatorial Guinea Ministry of Finance Website in 2021 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.

All Grantees

Government of Equatorial Guinea

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