Skip to content

Overview

Chinese Government provides $7.6 million interest-free loan for Presidential Palace Rehabilitation Project

Commitments (Constant USD, 2023)$10,543,171
Commitment Year2009Country of ActivityGuinea-BissauDirect Recipient Country of IncorporationGuinea-BissauSectorGovernment And Civil SocietyFlow TypeLoan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 28, 2009
Start (actual)
Oct 20, 2011
End (planned)
Mar 1, 2013
End (actual)
Jul 6, 2013
First repayment
Dec 30, 2018
Last repayment
Dec 27, 2028

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

This project involved the rehabilitation of the presidential palace in the city of Bissau. More detailed locational information can be found at https://www.openstreetmap.org/way/130126038.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

Government Agencies

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Government of Guinea-Bissau

Implementing agencies

State-owned companies

  • China IPPR International Engineering Co., Ltd.
  • Fujian Construction Engineering Group Company

Loan desecription

Chinese Government provides $7.6 million interest-free loan for Presidential Palace Rehabilitation Project

Grace period10 yearsGrant element75.0516%Interest rate (t₀)0%Interest typeFixed Interest RateMaturity20 years

Narrative

Full Description

Project narrative

On December 28, 2009, China’s Ambassador to Guinea-Bissau, Yan Banghua, announced that the Chinese Government would rebuild Guinea-Bissau’s Presidential Palace (Palácio Presidencial da Guiné-Bissau or Palácio da República). The palace was destroyed during Guinea-Bissau’s 1998-1999 civil war. According to June 2018 email correspondence between AidData’s Executive Director and the Director General of the Office of the Secretary of State for Planning and Regional Integration in Guinea-Bissau, the Chinese Ministry of Commerce provided a loan worth $7,599,860 USD to the Government of Guinea-Bissau to support the Presidential Palace Rehabilitation Project. China’s Ministry of Commerce was the funding source and it administers the country’s interest-free loan program, so AidData assumes that it issued an interest-free loan in support of this project. The Presidential Palace Rehabilitation Project had two primary components: the restoration of the existing presidential palace (“the main building”) and the new construction of a new presidential advisory building in the city of Bissau. The new office building includes 31 offices, two meeting rooms, a tea room, and 4 public restrooms, with a construction area of 1,300 square meters. The new office building is also equipped with a generator room and 7 offices. The Presidential Palace covers an area of 2,471 square meters, and its main building, the Presidential Residence, covers an area of 1,171 square meters. The architectural style of the original main building was left intact. China IPPR International Engineering Co. Ltd was the contractor responsible for project design and Fujian Construction Engineering Group Co., Ltd was the contractor responsible for project implementation. On October 20, 2011, Guinea-Bissau’s President and Prime Minister and China’s Ambassador to Guinea-Bissau attended the groundbreaking ceremony. The groundbreaking ceremony was held near the Heroes’ Square in Bissau, Guinea-Bissau’s capital. Then, on March 2, 2012, the Chinese Ambassador to Guinea-Bissau, Li Baojun, and the Economic and Commercial Counselor Ju Chaoqing, visited and inspected the project. At the time, the construction period was expected to be one year. As of July 2012, the main structure of the new office building had been completed, and the project was scheduled to reach completion in March 2013. The project was officially completed and handed over to the Government of Guinea-Bissau on July 6, 2013.

Staff comments

1. The Chinese project title is 几内亚比绍总统府维修项目 or 几内亚比绍总统府维修项目. The Portuguese project title is Reabilitação do Palácio da República or Projecto de reabilitação do Palácio do Presidente da República e construção do prédio em anexo. 2. Since the borrowing terms of the interest-free loan are unavailable, AidData has set the maturity to 20 years by default and grace period to 10 years by default. per China's Foreign Assistance White Paper (http://www.cidca.gov.cn/2018-08/06/c_129925064_3.htm) which states that the maturity of interest-free loans is 20 years, with a drawdown period of 5 years, grace period of 5 years, and repayment over 10 years. AidData treats the drawdown period as providing 5 years of additional grace.