Chinese Government provides RMB 1 billion loan facility to support multiple projects (Linked to projects #1334, #1242, #61032, #61034, #61036, #61037, #1241, and #62351)
Constant 2017 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
This project is classified as an "umbrella" project, and is connected to related projects.
Funding agency [Type]
Export-Import Bank of China [State-owned Policy Bank]
Other multisector (Code: 430)
On February 5, 2007 on an official tour across Africa, Chinese President Hu Jintao pledged to provide an RMB 1 billion concessional loan facility to be used at the discretion of the Government of Namibia. The following borrowing terms would apply to subsidiary loans obtained through this facility: a 4.27% interest rate, a 15 year maturity, and a 5 year grace period. Then, in December 2007, China Eximbank and the Government of Namibia signed an RMB 1 billion concessional loan framework agreement, which identified several projects that would be funded according to a consistent set of terms and conditions. These projects reportedly included an RMB 300 million loan for the Modern Customs Scanning Equipment Acquisition Project (recorded in project #1241), an RMB 44 million loan for the Electronics Document and Record Management Systems (EDRMS) Project (recorded in project #1242), a $16.4 million loan for road construction in Eiseb Block Phase I (recorded in project #61037), and a $748,357 loan for Namibia Institute of Pathology (NIP) laboratories (recorded in project #61032). An additional RMB 645 million was reportedly set aside for three projects: Phase 2 of the Northern Railway Line Extension Project (recorded in project #1334), the Oshakati State Hospital Renovation Project (recorded in project #61034), and the Namibian Broadcasting Corporation Renovation Project (recorded in project #61036). This framework agreement was signed by China’s Ambassador to Namibia Ren Xiaoping and Nambia’s Minister of Finance Saara Kuugongelwa-Amadhila.
Number of official sources
Number of unofficial sources
Receiving agencies [Type]
Government of Namibia [Government Agency]