China Eximbank extends $158 million preferential buyer's credit for Juba International Airport Reconstruction and Extension Phase I Project

On April 14, 2013, China Eximbank and the Government of South Sudan signed a preferential buyer’s credit (PBC) loan agreement worth $158 million for the Juba International Airport Reconstruction and Extension Phase I Project. The loan reportedly covered the entire cost of the construction. China Harbour Engineering Company was the contractor responsible for project implementation. According to the Government of South Sudan, the PBC loan had an interest rate of 2%, a grace period of 5 years, and a maturity of 20 years. The upgrade included extending the airport's runway from 2,400 meters to 3,100 meters, the construction of duty-free shops and more parking lots, and the expansion of immigration offices. The project began on July 7, 2014 and was expected to take 30 months to complete. It was ultimately completed and put into use on March 17, 2017.

Additional details

The Chinese project title is 南苏丹朱巴国际机场项目 or 中国港湾工程有限责任公司朱巴国际机场改扩建项目. Some sources suggest that the China Eximbank loan was restructured as a $150 million buyer’s credit loan (BCL) — secured (collateralized) against oil sales — with an interest rate of LIBOR plus 350 basis points and a 15 year maturity.

Number of official sources

27

Number of unofficial sources

15