China Eximbank provides RMB 2 billion government concessional loan for Phase 1 of Autonomous Port of Nouakchott Expansion Project (Linked to Record ID#56903)

Project narrative

In 2009, China Eximbank and the Government of Mauritania signed an RMB 2 billion government concessional loan (GCL) for Phase 1 of the Autonomous Port of Nouakchott Expansion Project. This loan carried the following terms: 20 year maturity, 2% interest rate, and a 5 year grace period. Phase 1 involved an expansion of Berth No. 4 and Berth No. 5 at the Autonomous Port of Nouakchott (French: Port Autonome de Nouakchott: Arabic: ميناء نواكشوط). It also involved the construction of a safety embankment of 5 kilometers to protect the harbor and the city of Nouakchott. Upon completion, it was envisaged that the project would raise the harbor's output to above four million tons per year and spur economic and social development in Mauritania. China Road and Bridge Corporation (CRBC) was the contractor responsible for implementation. A groundbreaking ceremony was held on September 25, 2009. The project was completed in June 2014 and a completion ceremony was held on August 3, 2014. The Chinese Government also provided a separate loan for Phase 2 of the Autonomous Port of Nouakchott Expansion Project (captured in Record ID #56903), which involved the dredging of Berth No. 1, Berth No. 2, and Berth No. 3 at the Autonomous Port of Nouakchott.