China Eximbank provide RMB 69.4 million loan for the Kampala City Council (KCC) Procurement of Equipment Project
Commitment amount
$ 13223504.64
Constant 2017 USD
Summary
Funding agency [Type]
Export-Import Bank of China [State-owned Policy Bank]
Recipient
Uganda
Sector
Other multisector (Code: 430)
Flow type
Loan
Concessional
Yes
Category
Project lifecycle
Description
On April 15, 2008, the Ugandan Parliament approved a government concessional loan (GCL) worth RMB 69,437,058 from the China Eximbank for the Kampala City Council (KCC) Procurement of Equipment Project. The terms of the loan were as follows: 20-year maturity, 7 year grace period, 2% interest. The purpose of the loan was to facilitate the acquisition of road repair and sanitation equipment for Kampala City Council. It was part of a larger effort to address the severe disrepair of local infrastructure in Kampala. The equipment was supplied by First Automobile Works (also known as FAW Group Corporation).
Number of official sources
4
Number of unofficial sources
3
Details
Cofinanced
No
Receiving agencies [Type]
Government of Uganda [Government Agency]; Kampala City Council [Government Agency]
Implementing agencies [Type]
China FAW Group Co., Ltd. (FAW) [State-owned Company]
Loan type
Concessional
Maturity
20 years
Interest rate
2.0%
Grace period
7 years
Grant element
56.00770973%
Gurarantee provided
No
Insurance provided
No