China Eximbank provides RMB 250 million government concessional loan for the Jamaica Cricket Stadium Construction Project

Project narrative

On May 25, 2005, Export-Import Bank of China and Government of Jamaica signed a RMB 250 million government concessional loan (GCL) agreement for the Jamaica Cricket Stadium Construction Project. According to internal records that Jamaica’s Ministry of Finance and the Public Service supplied to AidData in May 2020, the loan carried the following borrowing terms: a maturity period of 20 years, a grace period of 5 years, an interest rate of 2%, a commitment fee of 0.25%, and a management fee of 0.25%. The first scheduled date of loan repayment was September 1, 2010 and the final date of scheduled loan repayment was September 21, 2025. As of October 30, 2021, the loan had achieved a 99.3% disbursement rate (RMB 248,424,338.38 out of RMB 250,000,000). Its outstanding amount was RMB 62,940,467.41 as of October 30, 2021. The purpose of the project was to construct Trelawny Multi-Purpose Stadium with a floor area of 15,800 square meters and 20,000 seats. China National Complete Plant Import Export Corporation (Complant) was the contractor responsible for implementation. Construction began on November 11, 2005. The project was completed in December 2006. In the spring of 2007, the stadium was used to host the International Cricket Council (ICC) Cricket World Cup 2007. The Trelawny Stadium is also known as Greenfield Multi-Purpose Stadium, which is located in Trelawny.