Project ID: 138

China Eximbank provides RMB 370 million government concessional loan for Phase 1 of 90kV Dakar Electricity Distribution Network Rehabilitation and Extension Project (Linked to Project #138, #53177, and #53283)

Commitment amount

$ 75955110.41

Constant 2017 USD

Summary

Funding agency [Type]

Export-Import Bank of China [State-owned Policy Bank]

Recipient

Senegal

Sector

Energy (Code: 230)

Flow type

Loan

Concessional

Yes

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-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 year

2007

Completion

2016

2015-01-01

Planned

2016-04-29

Actual

Description

On July 12, 2007, the Export-Import Bank of China and Societe Nationale d'Electricite du Senegal (SENELEC) — Senegal’s state-owned electricity company — signed an RMB 370 million government concessional loan (GCL) agreement for the Phase 1 of 90kV Dakar Electricity Distribution Network Rehabilitation and Extension Project. This GCL carries the following terms: 20 year maturity, 5 year grace period, and a 2% interest rate. This project involved the construction of a 27 kilometer, 90 KV high-voltage power transmission line and four 90/30 KV transformer substations in the city of Dakar. China National Machinery and Equipment Import and Export Corporation (CMEC) was the contractor responsible for implementation. The project's proposed start date was January 1, 2006, but work did not commence until September 28, 2007. Then, an official groundbreaking ceremony took place on January 21, 2009. The project was ultimately completed and accepted by the Government of Senegal on April 29, 2016. As of September 23, 2016, China Eximbank had disbursed 26,026,772,582 XOF, leaving 9,973,227,418 XOF undisbursed. China Eximbank also financed the second phase of this project (see Project ID#53283) and provided supplemental funding through a third loan (see Project ID#53178). The first phase of this project was funded by China Eximbank and it is captured in Project ID#138.This project is also known as Phase 1 of the 90kv Dakar Power Loop Transmission and Power Grid Project and Phase 1 of Dakar City Power Transmission and Transformation Project. The Chinese project title is 塞内加尔达喀尔环城输变电项目 or 惠贷款的环达喀尔输变电项目. The French project title is 1ère phase de boucle 90 kV de Dakar or 1ère phase de Boucle de Dakar. China Eximbank also provided two follow-on loans to support this project (see Project ID#53178 and ID#53283). In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it does not report the terms of the loan (20 year maturity, 5 year grace period, 2% interest rate) that supported this project. AidData relies upon the borrowing terms that are reported by the borrower: Societe Nationale d'Electricite du Senegal (SENELEC).

Number of official sources

22

Number of unofficial sources

6

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Senegal [Government Agency]

Implementing agencies [Type]

China Machinery Engineering Corporation (CMEC) [State-owned Company]; Senelec [State-owned Company]

Loan type

Concessional

Maturity

20 years

Interest rate

2.0%

Grace period

5 years

Grant element

53.10116182%

Gurarantee provided

No

Insurance provided

No