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Overview

China Eximbank provides RMB 990 million government concessional loan for Couva Children's Hospital Construction Project

Commitments (Constant USD, 2023)$166,479,712
Commitment Year•2013Country of Activity•Trinidad and TobagoDirect Recipient Country of Incorporation•Trinidad and TobagoSector•HealthFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Mar 15, 2013
Start (actual)
Jun 1, 2013
End (actual)
Aug 14, 2015
First repayment (originally scheduled)
Sep 19, 2018
Last repayment (originally scheduled)
Mar 10, 2033

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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Funds were provided to help with the Couva Children's Hospital Construction Project. More detailed locational information can be found at https://www.openstreetmap.org/way/628412112 and https://www.mindat.org/feature-11609399.html

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

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

  • Government of the Republic of Trinidad and Tobago

Implementing agencies

Government Agencies

  • Government of the Republic of Trinidad and Tobago

State-owned companies

  • Shanghai Construction Group General Co.

Loan description

China Eximbank provides RMB 990 million government concessional loan for Couva Children's Hospital Construction Project

Grace period•5.52 yearsInterest rate (t₀)•2%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

In December 2012, the Chinese Government and the Government of the Republic of Trinidad and Tobago signed a preferential loan framework agreement for the Couva Children's Hospital Project. Then, on March 15, 2013, China Eximbank and the Government of the Republic of Trinidad and Tobago signed a government concessional loan (GCL) agreement worth RMB 990 million for the Couva Children's Hospital Project. The borrowing terms of the loan (GCL) were as follows: a 20 year maturity, a 5.52 year grace period, and a 2% interest rate. The loan was scheduled for repayment in 31 equal and semi-annual installments between March 21, 2018 and March 15, 2033. It fully disbursed between July 2013 and June 2017. The borrower made its first principal repayment of RMB 32,050,977.44 in September 2018 and its second principal repayment of RMB 31,819,990.30 between September 30, 2018 and September 30, 2019. However, it made no principal repayments between September 30, 2019 and September 30, 2021. Cumulative principal repayments amounted to RMB 32,050,977.44 as of September 30, 2018, RMB 63,870,967.74 as of September 30, 2019, RMB 63,870,967.74 as of September 30, 2020, and RMB 63,870,967.74 as of September 30, 2021. The loan’s (principal) amount outstanding was RMB 958,064,516.13 as of September 30, 2018, RMB 894,193,548.39 as of September 30, 2019, RMB 830,322,580.65 as of September 30, 2020, and RMB 766,451,612.91 as of September 30, 2021. The project involved the construction of a hospital in Preysal, Couva with 230 beds (80 pediatric and 150 adult), emergency/surgery departments, a pharmacy, laboratory, and helipad. Shanghai Construction Group was the EPC contractor responsible for implementation. Its work was undertaken with oversight from Urban Development Corporation of Trinidad and Tobago (UDeCOTT). The project commenced on June 1, 2013, and was originally slated for completion on August 14, 2015. It was ultimately completed on schedule and officially commissioned on August 14, 2015.

Staff comments

1. AidData obtained the commitment date, face value, and borrowing terms of the China Eximbank loan from internal records [extracted from the Commonwealth Secretariat Debt Recording and Management System (CS-DRMS) and date stamped on March 23, 2020] that the Government of Trinidad and Tobago shared with AidData in March 2020. 2. The CS-DRMS loan number is 2013006. 3. One official source indicates that the loan’s final maturity date falls on September 21, 2033 rather than in March 2033. This issue warrants further investigation.