Project ID: 18756

China Eximbank provides RMB 583 million government concessional loan for 172 km Aftout Echarghui Road Project (Linked to Project ID#56793)

Commitment amount

$ 104095688.4

Constant 2017 USD

Summary

Funding agency [Type]

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

Recipient

Mauritania

Sector

Transport and storage (Code: 210)

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

2010

Completion

2015

2015-04-21

Actual

Description

On December 29, 2010, China Eximbank and the Government of Mauritania’s Ministry of Equipment and Transport signed an RMB 583 million government concessional loan (GCL) agreement for the 172 km Aftout Echarghui Road Project. This GCL carried the following terms: 20 year maturity, 7 year grace period, and a 2% interest rate. The loan agreement was ratified by Mauritania’s Parliament on April 13, 2011. The purpose of this project was to open up the poverty-stricken southern areas of Mauritania. The Aftout Echarghui Road Project was broken into two lots: Lot 1 supported the 81 km El Ghayra-Barkeol road segment and Lot 2 supported the 91 km Chogar-Male-Sawata road segment. China Overseas Engineering Co., Ltd. was the contractor responsible for implementation. It signed a commercial contract to build the road in April 2010. The project officially commenced on November 22, 2010 and it was completed on April 21, 2015. The Aftout Echarghui Road was also financed partially through an RMB 60 million Chinese Government grant, which is captured in Project ID#56793.”

Additional details

This project is also known as the 172 km Aftout Chergui Road Project Nema-Bangou-Bassikounou-Fassala Road Project, the Hope Delta Highway project, the Triangle of Hope Highway Project. The French project title is Projet de construction de la la route de l'Aftout Oriental (Triangle de l'Espoir), Route Aftout Oriental, Route Aftout d'Echarghui, and Travaux de construction de Lot 1: El Ghayra-Barkeol et Lot 2: Chogar-Male-Sawata de la route d'Aftout Echergui. The Chinese project title is 希望三角洲公路项目. In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it does not record the borrowing terms of this loan. AidData records the borrowing terms (20 year maturity, 7 year grace period, and 2% interest rate) that were reported to Mauritania’s Parliament prior to its ratification of loan agreement on April 13, 2011.

Number of official sources

13

Number of unofficial sources

6

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Mauritania [Government Agency]

Implementing agencies [Type]

China State Construction Overseas Development Co., Ltd. [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