China Eximbank provides $100.8 million preferential buyer’s credit for Construction and Equipping of Vocational Training and Development Centers Project

On November 11, 2015, China Eximbank and the Government of Gabon signed a $100,877,016.45 preferential buyer’s credit (PBC) agreement for the Construction and Equipping of Vocational Training and Development Centers Project. The PBC carries the following terms: 20 year maturity, 5 year grace period, and a 2% interest rate. The proceeds from this loan will be used to finance a commercial contract between Avic International Holding Corporation and Gabon’s Ministry of Vocational Training, which was signed on June 15, 2013. The purpose of this project is to build and equip three vocational training and development centers in the cities of Owendo, Port-Gentil and M'Vengué (Franceville). Each center will be equipped with materials, technology, appliances, and furniture. Each center will provide training in up to 10 different industries and accommodate up to 600 students who will live onsite. These centers are being created to improve the country’s employment situation, especially among young people. The groundbreaking ceremony for this project on August 11, 2017. The project was still ongoing as of September 2020.

Additional details

The French project title is Projet de Construction et d’Equipement de trois (3) Centres de Formation et de perfectionnement professionnels. The Chinese project title is 加蓬职教项目 or 中航国际加蓬职教项目. This China Eximbank loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020.

Number of official sources

12

Number of unofficial sources

14