China Eximbank provides $89.9 million buyer’s credit loan for Medical Equipment and Supplies Project (linked to #63444)
Constant 2017 USD
Funding agency [Type]
Export-Import Bank of China [State-owned Policy Bank]
Health (Code: 120)
Export Buyer's Credit
On 21 March, 2011, China Eximbank and the Government of Zimbabwe signed a $89,955,000 USD buyer’s credit loan (BCL) agreement for the Medical Equipment and Supplies Project (See: NATIONAL ASSEMBLY HANSARD - 7 AUGUST 2012 VOL. 38 NO. 51). This loan carried the following terms: 11 year maturity, 4 year grace period, 3.507% interest rate (calculated by adding the average 6 month libor rate for 2011 with a 3% margin: 0.507 + 3 = 3.507%), a 0.375% management fee, and a 0.375% commitment fee (See: Zimbabwe 2011 ARTICLE IV CONSULTATION). This project involved the acquisition of NMR, CT, digital X-ray machines, ultrasound machines, anesthesia machines, incubators, medical carts, ambulances, and mobile clinic buses (See: 林琳大使出席津方医疗设备启用仪式).China Machinery Engineering Corporation (CMEC) was the contractor responsible for implementation of the project (See: Zimbabwean President Attends the Handover Ceremony for CMEC-undertaken Medical Project). The equipment was officially commissioned and handed over to the authorities at the Harare Central Hospital on 5 March, 2015 (See: 驻津巴布韦大使林琳出席津方医疗设备启用仪式). The Chinese project title is 津巴布韦医疗设备供货项目 or 医疗设备 (See: 驻津巴布韦大使林琳出席津方医疗设备启用仪式).This project was financed as part of larger $566 million USD umbrella agreement, which is captured in the linked project #63444.
In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it identifies this project as being supported by a concessional loan with a 20 year maturity, 5 year grace period, and 2% interest rate. AidData records the lending terms that reported by the IMF and by Zimbabwe’s Ministry of Finance and Economic Development (in its communications with the National Assembly prior to loan ratification).
Number of official sources
Number of unofficial sources
Receiving agencies [Type]
Government of Zimbabwe [Government Agency]
Implementing agencies [Type]
China Machinery Engineering Corporation (CMEC) [State-owned Company]