Project ID: 2339

China Eximbank provides $86.1 million concessional loan for National Heroes (or Lusaka National) Stadium Construction Project (Linked to Project ID#85186)

Commitment amount

$ 119913789.17205629

Adjusted commitment amount

$ 119913789.17

Constant 2021 USD

Summary

Funding agency [Type]

Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]

Recipient

Zambia

Sector

Other social infrastructure and services (Code: 160)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

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

2010-07-01

Planned start

2011-07-06

Actual start

2011-07-06

Planned complete

2014-01-06

Actual complete

2013-10-30

Geography

Description

In July 2010, China Eximbank and the Government of Zambia signed an $86.1 million concessional loan agreement for the National Heroes (or Lusaka National) Stadium Construction Project. The loan reportedly carried a 10 year grace period and a 20 year maturity. Its interest rate is unknown. The project involved the construction of the National Heroes Stadium and the reconstruction of the old Independence Stadium in Lusaka. National Heroes Stadium is a multi-purpose facility that can accommodate more than 50,009 spectators. It has a football pitch, a running track, two gymnasiums, four dressing rooms, four VIP lounges, shops, booths, car parks, media rooms, conference rooms, meeting rooms, a police station, a medical room, an anti doping center, massage rooms, and offices. The Zambia Electricity Supply Corporation (ZESCO) supplied power to the site. Shanghai Construction Group was the contractor responsible for project implementation. The contract specified that works would commence on July 6, 2011 and end on January 6, 2014. A formal groundbreaking ceremony took place on January 10, 2011. Construction began on July 6, 2011 and ended on October 30, 2013. It was officially handed over to the Government of Zambia's Ministry of Youth and Sport on June 2, 2014.

Additional details

1. This project is also known as the AKA Lusaka National Stadium Construction Project, the Lusaka National Stadium Construction Project, the Lusaka Stadium Project, and the National Stadium Project. The Chinese project title is 赞比亚卢萨卡体育场 or 卢萨卡体育场项目. 2. Another $8 million China Eximbank concessional loan was issued for the Independence Stadium Grandstand Rehabilitation Project (as captured via Project #85186).

Number of official sources

15

Number of total sources

29

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Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Zambia [Government Agency]

Implementing agencies [Type]

Shanghai Construction Group General Co. [State-owned Company]

Zambia Electricity Supply Corp. (ZESCO) [State-owned Company]

Zambia Ministry of Youth Sport and Child Development [Government Agency]

Loan Details

Maturity

20 years

Grace period

10 years

Bilateral loan

Investment project loan