Project ID: 30353

China Eximbank provides RMB 720 million government concessional loan for Multinational Rwanda-Burundi Road Project

Commitment amount

$ 116241322.8

Constant 2017 USD

Summary

Funding agency [Type]

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

Recipient

Rwanda

Sector

Transport and storage (Code: 210)

Flow type

Loan

Concessional

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 year

2012

Implementation

2013

2013-07-29

Actual start

Completion

2016

2016-04-30

Actual

Description

On December 27, 2012, the Government of Rwanda passed a law authorizing an RMB 720 million ($113,409,230.63) China Eximbank government concessional loan (GCL) agreement that was signed in China on July 20, 2012. The terms of the loan are as follows: 1.5 percent interest rate, 20 year maturity, and a 7 year grace period. The total value of the project is $320 million, with the remainder of the funding coming through loans from the African Development Bank and Arab Development Bank. China Road and Bridge Corporation (CRBC) is responsible for implementing the project with the Canadian firm CIMA overseeing construction. The entire Kivu Belt road will cover 185 km; the China Eximbank loan will cover two sections (Lot 4 and Lot 5) of the Kivu Belt Road Project (also known as the Multinational Rwanda-Burundi Road Project) -- one 24.km stretch connecting Mwityazo of Nyamasheke district with Ruvumbu of Karongi district and another 41.6 km stretch connecting Ruvumbu to Kibuye. Construction began on July 29, 2013, and it was completed on April 30, 2016.

Additional details

The Chinese name of this project is 工的基伍湖沿湖路66公里项目.

Number of official sources

19

Number of unofficial sources

5

Download the dataset

Details

Cofinanced

No

Receiving agencies [Type]

Government of Rwanda [Government Agency]

Implementing agencies [Type]

China Road & Bridge Corporation (CRBC) [State-owned Company]; CIMA [Private Sector]

Loan type

Concessional

Maturity

20 years

Interest rate

1.5%

Grace period

7 years

Grant element

59.61563114%

Gurarantee provided

No

Insurance provided

No