Project ID: 31888

China Eximbank provides RMB 280 million government concessional loan for the Bafoussam and Limbe Stadiums Project

Commitment amount

$ 53434810.31

Constant 2017 USD

Summary

Funding agency [Type]

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

Recipient

Cameroon

Sector

Other social infrastructure and services (Code: 160)

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

Completion

2016

2016-04-30

Actual

Geography

Description

On August 3, 2009, Chinese and Cameroonian government officials signed a framework agreement in which China pledged to offer a concessional loan to Cameroon. On November 5, 2009, China Eximbank and the Cameroon Ministry of Economy, Planning, and Regional Development officially signed the government concessional loan (GCL) agreement [CHINA EXIMBANK GCL NO. (2009) 27 TOTAL NO. (278)] worth 280 million RMB for the Bafoussam and Limbe Stadiums Project (or 喀麦隆体育场项目). The terms are as follows: 20-year maturity, 5-year grace period, 2% interest rate, 0.30% management fee, and 0.30% commitment fee.China National Machinery and Equipment Import and Export Corporation (CMEC) and the Cameroon Ministry of Economy, Planning, and Development signed a commercial contract (CAM-CAMC/SPORTS/001-1) for these stadiums on June 10, 2009. CMEC was responsible for the design, materials, construction, installation, commissioning, and training for the major structure, decoration, an awning and its steel structure, water supply, and drainage system, an extra-low voltage supply system, and a low voltage supply system. Each stadium was designed to seat approximately 20,000 people. The groundbreaking ceremony for Limbe Stadium was held on December 18, 2009, and the completion ceremony took place on January 26, 2016. The groundbreaking ceremony for Bafoussam stadium was held on December 19, 2009, and the completion ceremony took place on April 30, 2016.

Additional details

1. The French project title is Projet de construction des stades de Bafoussam et de Limbé.2. The loan agreement can be accessed in its entirely in SourceID#66991 or https://www.documentcloud.org/documents/20485370-cmr_2009_166.3. The project ID number for this transaction in Cameroon's Development Assistance Database (DAD) is CAM/000678

Number of official sources

9

Number of unofficial sources

7

Download the dataset

Details

Cofinanced

No

Receiving agencies [Type]

Cameroon Ministry of Economy, Planning, and Regional Development (MINEPAT) [Government Agency]

Implementing agencies [Type]

China Machinery Engineering Corporation (CMEC) [State-owned Company]

Loan type

Concessional

Maturity

20 years

Interest rate

2.0%

Grace period

5 years

Management fee

0.3

Commitment fee

0.3

Grant element

53.10116182%

Gurarantee provided

No

Insurance provided

No