China Eximbank provides RMB 136.6 million loan for Phase 2 of Section 2 (Dutlwe-Morwamosu) of the Letlhakeng-Kang Road Project (Linked to Record ID#119 and Record ID#105)

Project narrative

In November 20, 2005, China Eximbank and the Government of Botswana signed an RMB 160 million loan framework agreement for Section 2 (Dutlwe-Morwamosu) of the Letlhakeng-Kang Road Project. On April 24, 2006, China Eximbank and the Government of Botswana signed an RMB 150 million loan agreement for Phase 1 of Section 2 (Dutlwe-Morwamosu) of the Letlhakeng-Kang Road Project. This loan carries the following terms: 16 year maturity, 6 year grace period, and 3% interest rate. Its final maturity date is March 21, 2022. Then, in 2007, the China Eximbank and the Government of Botswana signed an RMB 136,637,850 loan agreement for Phase 2 of Section 2 (Dutlwe-Morwamosu) of the Letlhakeng-Kang Road Project. This loan carries the following terms: 15 year maturity, 6 year grace period, and 3% interest rate. Its final maturity date is September 21, 2022. Record ID#105 captures the RMB 150,000,000 loan for Phase 1 of Section 2 (Dutlwe-Morwamosu) of the Letlhakeng-Kang Road Project, while Record ID#109 captures the RMB 136,637,850 loan for Phase 2 of Section 2 (Dutlwe-Morwamosu) of the Letlhakeng-Kang Road Project. Section 2 (Dutlwe-Morwamosu) of the Letlhakeng-Kang Road Project cost approximately $40 million in total. It involved the construction of a 134 road segment from Dutlwe to Morwamosu that passes through Kweneng District, Southern District, and Kgalagadi District. More specifically, it involved the construction of a 95.74 km main road (9.7 meters wide), 7.07 kilometers of additional roads (7.0 meters wide), 31 km of connecting roads, and 119 culverts. Section 1 of the larger 257 km Letlhakeng-Kang Highway Project was also financed by China Eximbank (see Record ID#119). China Construction Botswana Co. Ltd. (中建博茨瓦纳有限公), a subsidiary of China State Construction Engineering Corporation, was the contractor responsible for the implementation of Phases 1 and 2 of Section 2 (Dutlwe-Morwamosu) of the Letlhakeng-Kang Road Project. Construction began in April 2006 and ended in 2009. A road opening ceremony took place in Boonen within Dutlwe District on November 27, 2010. This project is also known as the Section 2 (Dutlwe-Kang/Morwamosu) of the Letlhakeng-Kang Road Project or 134 km Letlhakeng-Kang-Dutwe-Morwamosu Highway Project or 134 km Letlhakeng-Morwamosu Highway Project.