Project ID: 30472

China Eximbank provides $25 million loan for Kamwala Government Complex Construction Project (Linked to Project ID#2126, #15411)

Commitment amount

$ 37550251.2068698

Adjusted commitment amount

$ 37550251.21

Constant 2021 USD

Summary

Funding agency [Type]

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

Recipient

Zambia

Sector

Government and civil society (Code: 150)

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

2009-01-01

Actual start

2010-03-01

Planned complete

2010-05-01

Actual complete

2011-08-31

NOTE: Red circles denote delays between planned and actual dates

Geography

Description

On September 16, 2002, the Chinese Government provided an RMB 69.2 million interest-free loan (captured via Project ID#2126) to the Government of Zambia for the Kamwala Government Complex Construction Project. In 2009, China Eximbank provided an additional $25 million concessional loan to the Government of Zambia because the original funding proved insufficient. The loan carried the following borrowing terms: a 2% interest rate, a 15-year maturity, a 5-year grace period, a 0.5% commitment fee, and a 0.75% management fee. The project involved the construction of a government complex in Lusaka. Construction was initiated by China Overseas Engineering Company (COVEC) and completed by Shanghai Construction Company. Construction was originally expected to take 14 months from the implementation start date. Construction began on March 1, 2010 and ended on August 31, 2011. The project was officially handed over to the authorities on held on January 13, 2012.

Additional details

1. The Chinese project title is 建的赞比亚政府综合楼项目 or 赞比亚政府大楼会议中心和宴会厅. 2. In August 2010, the Chinese government provided additional grant funding for this project (as captured via Project ID#15411).

Number of official sources

8

Number of total sources

11

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Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Zambia [Government Agency]

Implementing agencies [Type]

Shanghai Construction Engineering Group (SCG) (上海建工) [State-owned Company]

China Overseas Engineering Group Co., Ltd. [State-owned Company]

Loan Details

Maturity

15 years

Interest rate

2.0%

Grace period

5 years

Grant element (OECD Grant-Equiv)

43.5184%

Bilateral loan

Investment project loan