China Exim Bank loans 307 million USD to Sri Lanka for phase one of the Hambantota Port development project
EXIM Bank of China provided the loan of US$307 million for the construction of the bunkering port in the southern part of the country. China EXIM Bank and Sri Lanka signed the 15-year loan agreement of Hambantota Port Phase I in October 2007. The Hambantota Port was constructed by the Chinese companies China Harbor Engineering Company and Sinohydro Corporation; construction began on 15 January 2008. While Phase 1 of the project cost about US$505 million (Based on report by Nikkei Asian Review), the whole development project is expected to cost US$1 billion. EXIM Bank had also provided about US$77 million loan for the bunkering terminal (See Project ID#33329) and US$809.35 million for Hambantota Port Develoment Project Phase II (See Project ID#33481). The port at Hambantota started storing bunker fuel and began proper bunkering in June 2013. Bunkering was originally scheduled to begin in May 2011, but the removal of an undersea rock blocking the mouth of the port was necessary before the port could be fully operational. The port is already managing vehicles-transhipment, imports and vessels in 2012.
Project Details
Donor
China
Recipient
Sri Lanka
Year
2005
Amount (Listed)
USD
307,000,000
Amount (2014 USD)
USD
602,987,044
Flow
Loan (excluding debt rescheduling)
Flow Type
OOF-like
Intent
Mixed
CRS Sector Name
Transport and Storage
Recommended for Research?
TRUE
Umbrella
0
Official Citation
For academic purposes: Dreher, A., Fuchs, A., Parks, B.C., Strange, A. M., & Tierney, M. J. (2017). Aid, China, and Growth: Evidence from a New Global Development Finance Dataset. AidData Working Paper #46. Williamsburg, VA: AidData.
For other (non-academic) purposes: AidData. 2017. Global Chinese Official Finance Dataset, Version 1.0. Retrieved from http://aiddata.org/data/chinese-global-official-finance-dataset.
Documentation
All fields in the dataset are listed below. Descriptions of each field are taken dataset's Readme file. You can download this file along with the whole dataset at aiddata.org/data/chinese-global-official-finance-dataset
About This Record
Back to topproject_id
33256
Field Definition
From the dataset Readme
Unique identification number assigned to every project in the dataset. Within the dynamic, online version of the dataset (at china.aiddata.org), projects can be accessed with their unique identification numbers by using the “Access project by ID” function.
title
China Exim Bank loans 307 million USD to Sri Lanka for phase one of the Hambantota Port development project
Field Definition
From the dataset Readme
Short phrase describing the nature of a given project
description
EXIM Bank of China provided the loan of US$307 million for the construction of the bunkering port in the southern part of the country. China EXIM Bank and Sri Lanka signed the 15-year loan agreement of Hambantota Port Phase I in October 2007. The Hambantota Port was constructed by the Chinese companies China Harbor Engineering Company and Sinohydro Corporation; construction began on 15 January 2008. While Phase 1 of the project cost about US$505 million (Based on report by Nikkei Asian Review), the whole development project is expected to cost US$1 billion. EXIM Bank had also provided about US$77 million loan for the bunkering terminal (See Project ID#33329) and US$809.35 million for Hambantota Port Develoment Project Phase II (See Project ID#33481). The port at Hambantota started storing bunker fuel and began proper bunkering in June 2013. Bunkering was originally scheduled to begin in May 2011, but the removal of an undersea rock blocking the mouth of the port was necessary before the port could be fully operational. The port is already managing vehicles-transhipment, imports and vessels in 2012.
Field Definition
From the dataset Readme
1-2 paragraph comprehensive summary of the activities supported by the project. See page 15 of the methodology for a detailed explanation of how this variable is recorded.
status
Completion
Field Definition
From the dataset Readme
Tracks the progression of a project. Labels include: Pipeline: Pledge, Pipeline: Commitment, Implementation, Completed, Suspended, Cancelled.
recommended_for_research
TRUE
Field Definition
From the dataset Readme
This field identifies projects that AidData recommends including for normal research & financial analysis. It is equal to "TRUE" for all projects except for those that are marked as umbrella projects, pledges, cancelled, or suspended projects. We recommend excluding the projects marked "FALSE" because the umbrella projects and projects with a status of pledged, cancelled, or suspended likely represent double counting or would lead to including flows that were never fully committed/implemented. This field is meant to make it easier for users to clearly identify the set of projects that we recommend using to better understand the volume and composition of Chinese Official Finance.
umbrella
0
Field Definition
From the dataset Readme
This field identifies projects where some agreement was signed between two countries but the funds were not allocated at the original agreement date, only to be allocated through smaller projects later on. Given the nature of TUFF data collection, it is likely that the smaller projects that relate to these umbrella projects were captured elsewhere in the dataset. To avoid double counting, we suggest users do not include records that are marked as umbrella projects in financial analysis. All general lines of credit are also marked as umbrella projects.
is_ground_truthing
FALSE
Field Definition
From the dataset Readme
A binary marker that indicates when a project has been verified with in-country field research.
Funder
Back to topdonor
China
Field Definition
From the dataset Readme
Entity providing assistance to recipient country. This can be a sovereign state or multilateral organization providing assistance to a recipient country. For this dataset, the donor will always be China.
funding_agency
Export-Import Bank of China, Government Agency
Field Definition
From the dataset Readme
Donor agency that provided the funding.
implementing_agency
SinoHydro , State-Owned Company; China Harbour Engineering Co., Ltd., State-Owned Company
Field Definition
From the dataset Readme
Agency that implemented the project. Could be from the donor, recipient or other parties.
cofinancing_agency
Field Definition
From the dataset Readme
Cofinancing agencies or other agencies involved in the project
Recipient
Back to toprecipient_condensed
Sri Lanka
Field Definition
From the dataset Readme
Recipient country. If multiple countries were identified as recipients, this field identifies the smallest regional grouping that all specified countries belong to.
recipient_region
Asia
Field Definition
From the dataset Readme
Region of the recipient country.
location_details
Hambantota
Field Definition
From the dataset Readme
The subnational locations where projects occurred.
recipient_agencies
Field Definition
From the dataset Readme
Recipient agencies that are involved in the project.
recipient_agencies_count
Field Definition
From the dataset Readme
Number of recipient agencies that are involved in the project.
all_recipients
Sri Lanka
Field Definition
From the dataset Readme
The recipient entity or entities receiving official finance from a donor entity. A project record can have multiple recipients in cases where a donor entity is providing financing, goods or services to more than one country through a single project. This field provides a pipe-delimited list of all recipients specified as receiving official finance from a donor entity.
recipient_count
1
Field Definition
From the dataset Readme
number of recipient countries identified
Amount
Back to topamount
307,000,000
Field Definition
From the dataset Readme
Monetary amount pledged or committed by the donor entity for the completion of a project.
currency
USD
Field Definition
From the dataset Readme
Currency associated with the monetary amount for a project.
usd_defl_2014
602,987,044
Field Definition
From the dataset Readme
Deflated monetary equivalent of reported monetary amount in reported currency to 2014 U.S. Dollars
usd_current
307,000,000
Field Definition
From the dataset Readme
Nominal USD value of the amount specified for the project
deflators_used
0.509132
Field Definition
From the dataset Readme
Deflator value calculated based on AidData methodology (which mimics OECD deflation methodology) using World Bank sources. Deflator is calculated using donor country inflation and change in buying power.
exchange_rates_used
1
Field Definition
From the dataset Readme
Exchange rate used to change the specified currency of the original amount into USD.
Flow Type
Back to topflow
Loan (excluding debt rescheduling)
Field Definition
From the dataset Readme
Details on how financial flows, goods or services are transferred from the donor to recipient for a project. Flow types include: Debt Forgiveness, Debt Rescheduling, Export Credits, Foreign Direct Investment, Freestanding Technical Assistance, Grant, Loan, Joint Venture with Recipient, Scholarships/Training in Donor Country, and Strategic/Supplier Credit
flow_class
OOF-like
Field Definition
From the dataset Readme
Coders are also instructed to assign all projects to one of the following flow class categories: ODA-like, OOF-like, Vague (Official Finance), Official Investment, Official Religious Aid 1, and Official Religious Aid 2. More details on these flow categorizations can be found in Tuff Methodology 1.3 document. If the goal is to estimate Chinese Official Development Assistance in the strictest sense, include only projects with this field as ODA-like. However, if the goal is to estimate a more comprehensive measure of concessional and non-concessional Chinese Official Finance, then include ODA-like, OOF-like and Vague (Official Finance).
intent
Mixed
Field Definition
From the dataset Readme
Perceived intent of the finance provider. Categories covered by “donor intent” include: Development, Commercial, Representational, Mixed (encompassing any combination of the other three intents).
line_of_credit
FALSE
Field Definition
From the dataset Readme
Denotes a project or financial arrangement where the donor extended a line of credit to a recipient entity. This credit may or may not be used in its entirety by the recipient.
is_cofinanced
FALSE
Field Definition
From the dataset Readme
Denotes projects with multiple countries acting as donor (including the donor of investigation), where the financial amount provided by each donor separately could not distinguished.
loan_type
Non-Concessional
Field Definition
From the dataset Readme
Represents the general nature of the loan. Categories covered include: interestfree; concessional; non-concessional; no information and some information.
interest_rate
6.3
%
Field Definition
From the dataset Readme
Reported interest rate of the project loan, in percent
maturity
15
years
Field Definition
From the dataset Readme
Reported duration of the project loan, in years
grace_period
4
years
Field Definition
From the dataset Readme
Interval to first repayment of capital in years
grant_element
21.59
%
Field Definition
From the dataset Readme
Grant element of the loan, in percent. Uses grant element reported by project sources, unless it can be calculated independently with the OECD grant element calculator (assumes 10 percent rate of discount, 2 payments per annum, and equity principal payment).
Dates
Back to topyear
2005
Field Definition
From the dataset Readme
The year in which an agreement was reportedly made between a supplier of development finance and a recipient for a project. If available, the agreement year is the year of the formal signed commitment for a project; if commitment year is unavailable, or if a commitment has not been made, the year of the informal pledge is the agreement year for a project.
start_actual
January 15, 2008
Field Definition
From the dataset Readme
The actual date that the implementation of a project began on.
start_planned
January 15, 2008
Field Definition
From the dataset Readme
The announced start date for a project.
end_actual
Field Definition
From the dataset Readme
The actual date that a project was completed on.
end_planned
Field Definition
From the dataset Readme
The announced completion date for a project.
year_uncertain
FALSE
Field Definition
From the dataset Readme
Marker for projects without any sources reporting a specific pledge or commitment year. In these cases, the year of the earliest media report serves is coded as “agreement year.”
Sector
Back to topcrs_sector_code
210
Field Definition
From the dataset Readme
3-digit sector classification based on OECD sector codes
crs_sector_name
Transport and Storage
Field Definition
From the dataset Readme
Name of the 3-digit sector classification based on OECD sector codes
Source & Quality
Back to topsources
https://global.factiva.com/aa/?ref=AFPR000020050519e15j00817&pp=1&fcpil=en&napc=S&sa_from=, Media Report, including Wikileaks; https://global.factiva.com/aa/?ref=AFXASI0020050519e15j009q5&pp=1&fcpil=en&napc=S&sa_from=, Media Report, including Wikileaks; http://www.marinebuzz.com/2007/11/02/china-funds-sri-lanka-hambantota-port-development-project/, Other; http://shipandbunker.com/news/apac/720322-bunkering-ops-at-sri-lankas-hambantota-to-begin-in-june, Other; http://news.xinhuanet.com/english/china/2014-06/13/c_133405820.htm, Media Report, including Wikileaks; http://asia.nikkei.com/Politics-Economy/International-Relations/Sri-Lanka-s-China-backed-projects-hang-in-balance, Media Report, including Wikileaks; http://news.xinhuanet.com/english/2015-06/04/c_134297249.htm, Media Report, including Wikileaks; http://www.sundaytimes.lk/141019/news/china-gets-controlling-stake-at-hambantota-port-123262.html, Media Report, including Wikileaks; http://finance.sina.com.cn/world/ggjj/20150206/094221492671.shtml, Media Report, including Wikileaks; http://finance.huanqiu.com/world/2013-06/3992787.html, Media Report, including Wikileaks
How do we define a "source"?Field Definition
From the dataset Readme
Links to all the sources attached to one project.
sources_count
10
Field Definition
From the dataset Readme
Number of sources attached to one project.
contacts
Mangala Samaraweera, Ports and Aviation Minister
Field Definition
From the dataset Readme
Name and position of people who were involved in the project if available.
source_triangulation
4
Field Definition
From the dataset Readme
Rates projects based on the types of sources (media, academic, donor/recipient government, other official, NGO). The source triangulation measure varies from 0 to 19, with higher values representing a project record that draws upon a diverse set of information sources. For more information, see http://china.aiddata.org/content/improving_the_data.
field_completeness
9
Field Definition
From the dataset Readme
Rates projects based on the number of missing data fields critical to understanding the project. It also penalized projects with “Vague” makers like “Vague Official Finance” for flow class or “Vague TBD” for flow type. The field completeness measure varies from 0 to 9; higher values indicate that a higher percentage of the “fields” (i.e. variables such as transaction amount, flow type, and commitment year) for a given project record are complete. For more information, see http://china.aiddata.org/content/improving_the_data.
Other Fields
Back to toprecipient_cow_code
780
Field Definition
From the dataset Readme
Code of recipient country according to COW standard
recipient_oecd_code
640
Field Definition
From the dataset Readme
Code of recipient country according to OECD standard
recipient_oecd_name
Sri Lanka
Field Definition
From the dataset Readme
Name of recipient country according to OECD standard
recipient_iso3
LKA
Field Definition
From the dataset Readme
Code of recipient country according to ISO3 standard
recipient_iso2
LK
Field Definition
From the dataset Readme
Code of recipient country according to ISO2 standard
recipient_un_code
144
Field Definition
From the dataset Readme
Code of recipient country according to UN standard
recipient_imf_code
524
Field Definition
From the dataset Readme
Code of recipient country according to IMF standard