China Eximbank provides RMB 100 million loan for 1522 Low Cost Housing Units Project

On June 19, 2002, the Export-Import Bank of China signed an RMB 100 million loan agreement with the Development Bank of Mauritius Ltd (DBM) for the 1522 Low Cost Housing Units Project. This loan carried the following terms: a 12 year maturity, a 4 year grace period, and a 4% interest rate. DBM used the proceeds from this loan to on-lend to National Housing Development Company Ltd, a state-owned enterprise in Mauritius. This project involved the construction of 1,522 low-income housing units and related facilities. China's Jiangsu International Economic and Technological Cooperation Company was the contractor responsible for implementation. Construction began in 2002 and this project reached completion in 2006. According to a Statement of Contingent Liabilities published by the Government of Mauritius on December 31, 2009, the outstanding balance of this loan was RMB 62.5 million, signifying that repayment had begun by the end of 2009.

Additional details

This project is also known as the 1522 Low Cost Housing Project, 1522 Low Cost Housing Project, 1522 Low-Cost Housing Project, 1500 Low Cost Housing Project, 1500 Low-Cost Housing Project, the Social Housing Project, and the Low-Cost Housing Construction - 1500 Units Project. The Chinese project title is 成1500套低造价住房 or 1500套低造价住房 or 毛里求斯住房项目 or 毛里求斯1500套住房项目.

Number of official sources

11

Number of unofficial sources

13