China Eximbank provides USD 7.99 million loan for Gaborone Housing Project (293 Units)

In April 2006, China Eximbank and the Government of Botswana signed a USD 7.99 million loan agreement for the Gaborone Housing Project (293 Units) (293套低造价住房项目). This loan reportedly carried the following terms: a 16 year maturity and 3% interest rate. Its final maturity date is March 21, 2022. The Government of Botswana used the proceeds from the loan to on-lend to the Botswana Housing Corporation (BHC) at a significantly higher interest rate (approximately 8.4%). The BHC, in turn, used the proceeds from its subsidiary loan agreement with the Government of Botswana to construct 293 housing units in the city of Gaborone within District 7 (or Block 7). Complant Botswana (Pty) Ltd., a subsidiary of China National Overseas Engineering Corporation, was the contractor responsible for implementation. Construction began on January 26, 2006 and the project was completed in July 2008.

Additional details

This project is also known as the BHC-Gaborone Block 7 (293 Houses) Project or Gaborone 293 Houses in District 7 Project. The Chinese project title is 位于哈博罗内的293套住宅项目 or 293套住房项目 or 低造价住房项目 or 293套低造价住房项目. There is disagreement across sources with respect to the final maturity date of the loan. Botswana’s Ministry of Finance records a final maturity date of March 21, 2022. BHC records a final maturity date of 2019 (for the subsidiary loan agreement that it signed with the Government of Botswana. AidData relies on the maturity length that is recorded by Botswana’s Ministry of Finance.

Number of official sources

12

Number of unofficial sources

9