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A transportation project of Vietnam need to call in $ 250 million ODA in 30 years. ADB makes a commitment to finance the project with
A transportation project of Vietnam need to call in $ 250 million ODA in 30 years. ADB makes a commitment to finance the project with the following conditions:
- Preferential interest rate is 2% per year, the grace period is 3 years, the nonrefundable aid is $ 15 million
- Interest and principal are paid at 6-month term
- The principal are paid regularly for the remaining term after the grace period
- Market interest is estimated 8% per year during the project
Requirement: Determine the granted elements of the project
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