Project ID: 1051

China Eximbank provides $86 million USD buyer’s credit loan for 168 km El Fashir-Um Kaddada Road Construction Project (Linked to Umbrellas #57039, #54079)

Commitment amount

$ 112119491.2

Constant 2017 USD

Summary

Funding agency [Type]

Export-Import Bank of China [State-owned Policy Bank]

Recipient

Sudan

Sector

Transport and storage (Code: 210)

Flow type

Export Buyer's Credit

Concessional

No

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2009

Implementation

2010

2010-01-14

Actual start

Completion

2015

2015-01-05

Actual

Geography

Description

On 29 July 2008, China Eximbank and the Government of Sudan signed a $3 billion USD oil-backed master framework agreement (or line of credit) to finance various infrastructure projects (see Umbrella Project ID#57039). This resources-credit cooperation package is backed by future revenues from the sale of oil exports. Each subsidiary buyer’s credit loan (BCL) issued through the framework agreement carries a 15-year maturity and 5.6% interest rate.One of the subsidiary loans approved through this agreement in 2009 was a $86 million USD BCL for the 168 km El Fashir-Um Kaddada Road Construction Project (See: 'Eastern Promises: New Data On Chinese Loans in Africa, 2000 to 2014,' p. 19). The proceeds from this BCL were used to partially finance a $96 million commercial contract signed in 2009 with China Poly Group Corporation and China Railway 18th Bureau. This project involved the construction of a 168km road in Northern Darfur that begins in the city of El Fashir (الفاشر, the capital of Northern Darfur State) and extends eastward to Um Kaddada (أم كدّد;أمّ كدّادة) in Northern Darfur State. The groundbreaking ceremony took place on 14 January 2010, and the project was officially completed on 5 January 2015.The 168 km El Fashir-Um Kaddada Road is part of a larger, $650 million USD Western Salvation Highway, which links Khartoum to Western states in Darfur (see Umbrella Project ID#54079). The other roads that make up the Western Salvation Highway include Projects ID#1050, ID#1013, ID#1053, and ID#1059.

Additional details

This project is also known as the 168 km Aum Kadada-Alfashir Road Project and the 168 km Aum-Fa Road Project. The Chinese project title is “法希尔-乌姆卡达达”公路项目 or “法-乌”公路工程 or 部法希尔至乌木凯达代公路项目 or 州乌姆卡达达至法希尔公路项目 or 西部救国路 or 已贯通使用的苏丹乌法公路.SAIS-CARI identifies the loan maturity as 20 years and the interest rate as 3.5%. For the time being, AidData relies on the loan maturity and interest rate that was supposed to apply to all subsidiary loans approved through the $3 billion oil-backed master framework agreement (see Umbrella Project ID#57039).

Number of official sources

6

Number of unofficial sources

6

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Sudan [Government Agency]

Implementing agencies [Type]

China Poly Group Corporation [State-owned Company]; China Railway 18th Bureau Group Co. Ltd. [State-owned Company]; Sudan Ministry of Transport, Roads, and Bridges [Government Agency]

Loan type

Non-Concessional

Maturity

15 years

Interest rate

5.6%

Grant element

19.82670511%

Gurarantee provided

No

Insurance provided

No

Collateralized/securitized

Yes

Collateral

Future revenues from the sale of oil exports