Project ID: 1128

China Eximbank provides RMB 50 million loan for Northern Tannery and Leather Project

Commitment amount

$ 15500750.036202552

Adjusted commitment amount

$ 15500750.04

Constant 2021 USD

Summary

Funding agency [Type]

Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]

Recipient

Namibia

Sector

Industry, mining, construction (Code: 320)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

Yes

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

2000-03-01

Actual start

2000-06-10

Actual complete

2002-04-01

Geography

Description

In March 2000, China Eximbank and the Government of Namibia signed an RMB 50 million loan for the Northern Tannery and Leather Project. The loan carried an 8 year maturity at a 4% interest rate. The Northern Tannery and Leather Project involved the construction of a modern tannery in Ondangwa in the north of Namibia. China Nanjing International Namibian Construction was the contractor responsible for implementation of the project. Construction began in 2000 and the facility was completed in April 2002. It was shut down in 2007. Then, after a series of attempted revivals, the facility reopened in 2016. The Chinese project title is 建的纳米比亚北方制革厂项目 or 中纳合作项目——北方制革.

Additional details

This project is also known as the Northern Tannery and Leather Manufacturing Project. The loan that supported this project is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020.

Number of official sources

5

Number of total sources

15

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Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Namibia [Government Agency]

Implementing agencies [Type]

China Nanjing International Ltd. [State-owned Company]

Loan Details

Maturity

8 years

Interest rate

4.0%

Grace period

0 years

Grant element (OECD Grant-Equiv)

9.488%

Bilateral loan

Investment project loan