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

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.

Additional details

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 is September 21, 2033 rather than September 21, 2033. This issue warrants further investigation.

Number of official sources

26

Number of total sources

31