Overview

China Eximbank provides RMB 350 million government concessional loan for the Non-intrusive Container Scanner Acquisition Project

Commitments (Constant USD, 2023)$71,076,751

Commitment Year•2009Country of Activity•ZambiaDirect Recipient Country of Incorporation•ZambiaSector•Trade Policies And RegulationsFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 23, 2009

First repayment: Dec 31, 2013

Last repayment: Dec 29, 2023

Geospatial footprint

Map overview

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This project involved the delivery and installation of four non-intrusive container scanners at the Nakonde border post. More detailed locational information can be found at https://www.openstreetmap.org/node/3860578497 and https://www.google.com/maps/place/Nakonde+Border+Control/@-9.3164506,32.7633216,15z/data=!4m2!3m1!1s0x0:0x5a41fe401f1f0d4c?sa=X&ved=2ahUKEwj3tt-H-MXqAhU2mnIEHd1iCdoQ_BIwCnoECA4QCA.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

Government of Zambia
Zambia Revenue Authority

Implementing agencies

State-owned companies

Nuctech Company Limited (Tongfang Vision Technology Co., Ltd.)

Loan desecription

China Eximbank provides RMB 350 million government concessional loan for the Non-intrusive Container Scanner Acquisition Project

Grace period•5 yearsGrant element•47.5643%Interest rate (t₀)•2%Interest type•Fixed Interest RateMaturity•15 years

Narrative

Full Description

Project narrative

On December 23, 2009, China Eximbank and the Government of Zambia signed a RMB 350 million ($45.8 million) government concessional loan (GCL) agreement for the Non-intrusive Container Scanner Acquisition Project. The borrowing terms of the GCL were as follows: a 2% interest rate, a 15-year maturity period, a 5-year grace period, a 0.5% commitment fee, and a 0.75% management fee. On March 21, 2013, the Government of Zambia signed a subsidiary loan agreement on-lending the proceeds of this loan to Zambia Revenue Authority. The purpose of the project was to acquire four non-intrusive container scanners. Nuctech was the contractor responsible for project implementation. It successfully delivered the four scanners and installed them at the Nakonde border, but the precise delivery date is unknown. In 2011, a commission of inquiry was organized and it questioned the wisdom of the Government of Zambia’s decision to select Nuctech through a sole-source procurement process.