China Eximbank provides $23 million commercial buyer's credit loan for Maputo International Airport Modernization and Expansion Project (Linked to Project ID#1222, #72890)

On April 13, 2009, the Government of Mozambique and China Eximbank signed a $50 million concessional loan and a $23 million export buyer's credit loan for the Maputo International Airport Modernization and Expansion Project. The concessional carries an interest rate of 2% and the commercial loan carries an interest rate of 4.2%. Then, on December 16, 2010 the Government of Mozambique ratified a government concessional loan (GCL) agreement worth RMB 440,365,443 with China Eximbank to provide supplemental funding for the Maputo International Airport Modernization and Expansion Project. This project involved the construction of new terminals and an increase in the airport’s passenger handling capacity – from 450,000 to 900,000 per year. Anhui Foreign Economic Construction Group (AFECC) was the contractor responsible for implementation. Construction began on April 16, 2009 and ended on June 10, 2010. An official project completion ceremony was then held on November 12, 2010.This GCL carries a 2% interest rate. Project ID#1222 captures the $50 million concessional loan; Project ID#21389 captures the $23 million commercial loan; and Project ID#72890 captures the GCL worth RMB 440,365,443.

Additional details

This project is also known as Phase 1 of the Maputo International Airport Renovation Project. The Portuguese project title is Projecto de Modernização e Ampliação do Aeroporto Internacional de Maputo. The Chinese project title is 马普托国际机场改扩建项目. In the database of Chinese loan commitments that it released in July 2020, SAIS-CARI records the face value of this loan as $67 million. AidData records the face value ($23 million) that is recorded by Aeropuertos de Moçambique, E.P. As it is denominated in USD, provided to a foreign recipient, AidData has record of the exact transaction amount in official sources, and it was to be used to procure goods/equipment/services from a Chinese company, this was likely an export buyer's credit loan.

Number of official sources

13

Number of unofficial sources

11