CDIG provides $21 million buyer's credit loan for Dalian I Road Infrastructure Project (Linked to Project ID#55908, #36735 and #55419)

In May 1998, the Government of Suriname signed a commercial contract with Dalian International Economic and Technical Cooperation Group (CDIG) to refurbish 270 km of roads around the capital of Paramaribo. Then, on April 1, 2002, to help finance this commercial contract, CDIG issued a $21,077,240 buyer's credit loan to the Government of Suriname for the Dalian I Road Infrastructure Project. The loan carried the following borrowing terms: a 3 year maturity, a 1 year grace period, a a 5% interest rate. In May 2018, the Back Office Manager of the Suriname Debt Management Office (Cindy Eersel) supplied information to AidData that indicates the CDIG loan was fully repaid and the project was completed. The original contract signed between CDIG and the Government of Suriname took place during President Wijdenbosch’s state visit to China in 1998. Dalian was originally expected to start the refurbishment work in November 1999 under the supervision of a local company, Suriname Anneng Construction Company N.V., under management of the Suriname International Engineering Consultant. However, construction did not begin until early 2002. The project was completed in late 2003.

Additional details

1. The China-Latin America Finance Database, which is co-produced by the Inter-American Dialogue and Boston University’s Global Development Policy Center, does not capture the loan that supported this project. 2. This project marked the beginning of many Dalian (II, III, and IV) road construction projects in Suriname (as captured via Project ID#55908, #36735, and #55419.

Number of official sources

4

Number of total sources

9