China Eximbank provides RMB 960 million government concessional loan for Phase I of Hambantota Port Development— Ancillary Works & Supply of Equipment Project (Linked to Project ID #33256)
Constant 2017 USD
Funding agency [Type]
Export-Import Bank of China [State-owned Policy Bank]
Transport and storage (Code: 210)
On March 24, 2013, China Eximbank and the Sri Lanka Ports Authority (SLPA) signed an RMB 960 million government concessional loan (GCL) for the Hambantota Port Development Phase I - Ancillary Works and Supply of Equipment. SLPA is the state-owned operator of major commercial ports in Sri Lanka. This GCL carried the following terms: 20 year maturity, 5 year grace period, 2% interest rate, 0.25% commitment fee, and 0.25% management fee. The purpose of this project was to deepen the harbor basin one additional meter, dredge for approaching channel, provide additional work on the oil terminal, generate breakwater and revetment modification and handling facilities, provide a new administration and services building, and change specification of navigational aid and price escalation. China Harbor Engineering Co. and Sinohydro were the contractors responsible for project implementation. Project implementation began on April 24, 2013 and was completed on April 24, 2015.
This loan is ancillary to a 2007 buyer's credit loan for Phase I of Hambantota Port Development (captured in #33256).
Number of official sources
Number of unofficial sources
Receiving agencies [Type]
Sri Lanka Ports Authority [Government Agency]
Implementing agencies [Type]
China Harbour Engineering Co., Ltd. [State-owned Company]; Government of Sri Lanka [Government Agency]; Sri Lanka Ports Authority [Government Agency]