China Eximbank provides RMB 1.059 billion government concessional loan for 9 Cities Water Supply Project (Linked to Project ID#58421)
Constant 2017 USD
Funding agency [Type]
Export-Import Bank of China [State-owned Policy Bank]
Water supply and sanitation (Code: 140)
On October 20, 2013, China Eximbank and Cameroon's Ministry of Water Resources and Energy signed a government concessional loan (GCL) [CHINA EXIMBANK GCL NO.51 (2013) TOTAL NO. (496 1420303052013110305)] agreement worth RMB 1,653,018,595.78 (later amended to RMB 1.059 billion) for the 9 Cities Water Supply Project. The borrowing terms of the GCL were as follows: interest rate of 2%, maturity of 20 years, grace period of 5 years, management fee of 0.25%, and commitment fee of 0.25%. The borrower agreed to deposit project-related revenues in a special account to facilitate repayment. The proceeds of the China Eximbank loan were on-lent by Cameroon's Ministry of Water Resources and Energy to the Cameroon Water Utilities Corporation (Camwater) of the Republic of Cameroon to finance the commercial contract (worth RMB 1,653,018,595.78 and later amended to RMB 1.059 billion) with CGC Overseas Construction Group Co. Ltd. (CGCOC), which was signed on September 12, 2011 and amended on November 19, 2011.This project took place in two phases. The first phase of the project took place in four cities (Bafoussam, Bamenda, Kribi, and Sangmelima). It was supposed to take approximately 36 months (12 months for feasibility studies and 24 months for project execution) to complete. Phase 1 started October 1, 2013 and it was completed in August 2017.A separate China Eximbank loan agreement for the second phase of the project was signed in 2018 (as captured in Project ID#58421).
1. The Chinese project title is 九城市供水项目. The French project title is Projet d’alimentation en eau potable dans neuf villes.2. The loan agreement can be accessed in its entirety in SourceID#68943 or https://www.documentcloud.org/documents/20485903-cmr_2013_179.3. The project ID number for this transaction in Cameroon's Development Assistance Database (DAD) is CAM/000846.
Number of official sources
Number of unofficial sources
Receiving agencies [Type]
Cameroon Ministry of Economy, Planning, and Regional Development (MINEPAT) [Government Agency]; Cameroon Water Utilities Corporation (Camwater) [State-owned Company]
Implementing agencies [Type]
Cameroon Water Utilities Corporation (Camwater) [State-owned Company]; China State Construction Overseas Development Co., Ltd. [State-owned Company]; Government of Cameroon [Government Agency]
Special account into which the borrower was required to deposit project-related revenues