Chinese Government loans RMB 69.2 million interest-free for Kamwala Government Complex Construction Project (Linked to #30472, #15411)

On September 16, 2002, the Chinese Government provided an RMB 69.2 million interest-free loan to the Government of Zambia for the Kamwala Government Complex Construction Project (see source ID 112042 p. 28). Besides the 0% interest rate, the loan terms are unknown. In 2009, China Eximbank provided an additional $25 million USD loan (#30472) to the Government of Zambia when the original funding proved insufficient to undertake the project. This loan carried the following terms: 2% interest rate, 15-year maturity, 5-year grace period, 0.5% commitment fee, and 0.75% management fee. In August 2010, the Chinese government provided additional grant funding for this project (#15411).This project involved the construction of a government complex is located in Lusaka. Construction was initiated by China Overseas Engineering Company (COVEC) and completed by Shanghai Construction Company. Construction was originally expected to take 14 months from the implementation start date. However, in 2009, China Eximbank Construction began on March 1, 2010 and ended on August 31, 2011. The project was officially completed and handed over to the authorities on held on January 13, 2012.

Additional details

Other project names: New Government Complex or Zambia Government Building Conference Center and Banquet Hall or 赞比亚政府综合楼项目 or 赞比亚政府大楼会议中心和宴会厅. Since loan terms for the interest-free loan are unavailable, AidData has set maturity period to 20 years by default and grace period to 10 years by default per China's Foreign Assistance White Paper (http://www.cidca.gov.cn/2018-08/06/c_129925064_3.htm) which states that the maturity period of interest-free loans is 20 years, with a drawdown period of 5 years, grace period of 5 years, and repayment over 10 years. AidData treats the drawdown period as providing 5 years of additional grace.

Number of official sources

4

Number of unofficial sources

9