Project ID: 40801

China Eximbank provides $45 million loan for 330kV Kariba North Bank-Kafue West Transmission Line Project (Linked to Project ID#354)

Commitment amount

$ 49819285.41338198

Adjusted commitment amount

$ 49819285.41

Constant 2021 USD

Summary

Funding agency [Type]

Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]

Recipient

Zambia

Sector

Energy (Code: 230)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

Yes

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2014-10-13

Actual start

2013-03-18

Actual complete

2014-10-25

Geography

Description

On March 4, 2014, the Chinese Ambassador and the Zambian Minister of Finance signed a $41 million loan framework agreement for the 33kV Kariba North Bank-Kafue West Transmission Line Project. Then, on October 13, 2014, China Eximbank and the Zambia Ministry of Finance signed a $45 million loan agreement to support this project. The loan carried the following terms: 20-year maturity, 7-year grace period, and 2% interest rate. According to ZESCO's Report and Financial Statements, as of December, 31 2017, 100% of the loan funds had been drawn down. The proceeds from the loan were used to fund the construction of a 120 km power transmission line between the China Eximbank-financed Kariba North Bank Hydropower Plant (see Project ID#354) and Kafue West substation. Sinohydro was the contractor responsible for implementation. The project officially commenced on March 18, 2013 and construction ended on or around October 25, 2014. On December 15, 2014, power was successfully evacuated from the Kariba North Bank Hydropower Plant to the newly constructed transmission lines and then onward to the Lusaka power grid.

Additional details

1. The Chinese project title is 卡里巴-卡富韦输电线路 330kV 129KM or 赞比亚KK330输电线路工程 or 赞比亚卡里巴北至凯富埃西330kV输电线路项目.

Number of official sources

11

Number of total sources

21

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Details

Cofinanced

No

Direct receiving agencies [Type]

Zambia Ministry of Finance [Government Agency]

Implementing agencies [Type]

SinoHydro [State-owned Company]

Zambia Electricity Supply Corp. (ZESCO) [State-owned Company]

Loan Details

Maturity

20 years

Interest rate

2.0%

Grace period

7 years

Grant element (OECD Grant-Equiv)

51.7588%

Bilateral loan

Investment project loan