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Overview

Chinese Government pledges 750 billion CFA loan for Bamako-Dakar Railway Renovation Project (Linked to Record ID#52491)

Commitments (Constant USD, 2023)$1,555,709,641
Commitment Year•2014Country of Activity•MaliDirect Recipient Country of Incorporation•MaliSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Sep 13, 2014
Last repayment
Dec 25, 2043

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

  • Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

  • Government of Mali

Implementing agencies

Government Agencies

  • Government of Mali

State-owned companies

  • China Railway Construction Corporation Limited (CRCC)

Loan desecription

Chinese Government pledges 750 billion CFA loan for Bamako-Dakar Railway Renovation Project (Linked to Record ID#52491)

Grant element•53.0332%Interest rate (t₀)•2%Interest type•Fixed Interest RateMaturity•30 years

Narrative

Full Description

Project narrative

In 2014, the Chinese Government and the Government of Mali signed an agreement related to possible loan worth 750 billion CFA francs ($1.48 billion) loan to renovate the Bamako-Dakar railway, linking Mali to the Senegalese capital to the west. The agreements were signed during a four-day visit by President Ibrahim Boubacar Keita to China from Sept. 9 to 13 for the World Economic Forum in Tianjin. The loan, if approved, will reportedly carry an interest rate lower than 2% and a maturity of 30 years. The renovation of the railway will increase train speeds from under 20 km/hour to 100 km/hour for passengers and 80 km/hour for freight. On December 22, 2015, it was announced the renovation would be carried out by China Railway Construction Corporation, and involve the renovation of 644 kilometers and 22 railway stations. The duration of the work was estimated to be four years.

Staff comments

- The Chinese project title is 达喀尔至巴马科铁路（马里段）的修复改造. - This project is related to Record ID#52491, which captures the Senegal segment of the railway renovation project.