Project ID: 2032

China Eximbank pledges $400 million loan for Eastern Corridor Road Project (Linked to Project ID#28056)

Commitment amount

$ 483453262.2

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.

Summary

Funding agency [Type]

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

Recipient

Ghana

Sector

Transport and storage (Code: 210)

Flow type

Loan

Concessional

Vague

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (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

Suspended (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2010

2013-01-01

Planned completion

Description

In 2010, China Eximbank agreed in principal to provide a $400 million loan for the Eastern Corridor Road Project in Ghana. The loan would carry a maturity of 20 years and China State Construction Engineering Corporation was identified as the contractor responsible for implementation. The Eastern Corridor Road Project, which is also known as Nkwanta-Oti Damango Road Project, would link Northern Ghana to the south through the Volta Region, giving drivers an alternative and shorter route, including links to Burkina Faso, Mali, and Niger. The project stretches from Tema through Asikuma, Hohoe, Jasikan, Bimbilla to Yendi, and Nakpanduri to Kulungugu. The project involved the construction of a single two-lane carriageway, 3.5 meters per lane with a 2.5 meter hard shoulder on each side, drainage structure, lay-bys in specific towns and villages, bridge upgrades and relocation of utilities. The project was going to be funded through a $10.4 billion concessional credit package loan that the Government of Ghana signed with China Eximbank in September 2010 (see Project ID#28056). However, this loan was suspended in 2015. The Government of Ghana subsequently secured loans from the Africa Development Bank and the OPEC Fund for International Development for this project.

Number of official sources

2

Number of unofficial sources

6

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Ghana [Government Agency]

Implementing agencies [Type]

China State Construction Engineering Corporation (CSCEC) [State-owned Company]

Loan type

Some Information

Maturity

20 years

Gurarantee provided

No

Insurance provided

No