China Eximbank provides RMB 200 million loan for Section 1 of Letlhakeng-Kang Road Project (Linked to Project ID#105 and ID#109)

In 2003, China Eximbank and the Government of Botswana signed an RMB 200 million loan agreement for Phase 1 of the Letlhakeng-Kang Road Project (莱特哈肯-康公路(第一阶段)). This loan carried the following borrowing terms: a 15 year maturity, a 5 year grace period, and a 3% interest rate. Its final maturity date is September 21, 2018. The project involved the construction of a 123 km road segment (“Section 1”) from Letlhakeng to Dutlwe. It was part of a larger 257 km Letlhakeng-Kang Highway Project. Shanxi Construction Engineering Group Corporation was the contractor responsible for implementation. Construction began in 2003 May and ended in 2005 May. Section 2 of the Letlhakeng-Kang Highway Project, which ran from Dutlwe to Kang (Morwamosu), was also funded by China Eximbank through two separate loans (as captured via Project ID#109 and Project ID#105).

Additional details

1. This project is also known as the Section 1 of the Letlhakeng-Kang Highway Project, the Letlhakeng-Dutlwe Road Project, and the 123 km Letlhakeng-Dutlwe Section of the Letlhakeng-Kang Highway Project. The Chinese project title is 莱特哈肯-康公路(第一阶段). 2. In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it records the maturity of this loan as 12 years. AidData relies on the maturity (15 years) that is recorded by Botswana’s Ministry of Finance and Economic Development. 3. Parliament's authorization of the loan agreement can be accessed via https://www.botswanalaws.com/StatutesActpdf/2003Actpdf/LETLHAKENG%20-%20KANG%20(SECTION%201)%20ROAD%20PROJECT%20LOAN%20(AUTHORISATION)%20ACT,%207%20OF%202003.pdf

Number of official sources

11

Number of total sources

12