Project ID: 30472

China Eximbank loans $25 million USD for Kamwala Government Complex Construction Project (Linked to #2126, #15411)

Commitment amount

$ 32592875.35

Constant 2017 USD

Summary

Funding agency [Type]

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

Recipient

Zambia

Sector

Government and civil society (Code: 150)

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

2009

Implementation

2010

2010-03-01

Actual start

Completion

2011

2011-08-31

Actual

Description

On September 16, 2002, the Chinese Government provided an 69.2 million RMB interest-free loan (#2126) to the Government of Zambia for the Kamwala Government Complex Construction Project. However, in 2009, China Eximbank provided an additional $25 million USD concessional loan to the Government of Zambia because the original funding proved insufficient. According to a 2009 Economic Report (p. 63), this loan carried the following terms: 2% interest rate, 15-year maturity, 5-year grace period, 0.5% commitment fee, and 0.75% management fee.This 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.In August 2010, the Chinese government provided additional grant funding for this project (#15411).

Additional details

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.

Number of official sources

8

Number of unofficial sources

3

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Zambia [Government Agency]

Implementing agencies [Type]

China Overseas Engineering Group Co., Ltd. [State-owned Company]; Shanghai Construction Engineering Group (SCG) (上海建工) [State-owned Company]

Loan type

Concessional

Maturity

15 years

Interest rate

2.0%

Grace period

5 years

Management fee

0.75

Commitment fee

0.5

Grant element

47.56430247%

Gurarantee provided

No

Insurance provided

No