Project ID: 420

Chinese Government provides RMB 120 million interest-free loan for 10MW Boali III Hydroelectric Dam and Electric Transmission Network Project (linked to #56184 and #73346)

Commitment amount

$ 21426213.73

Constant 2017 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Central African Republic

Sector

Energy (Code: 230)

Flow type

Loan

Concessional

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

Implementation (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2010

Implementation

2011

2011-11-28

Actual start

Geography

Description

In 2008, China Eximbank considered the possibility of funding the 10MW Boali III Hydroelectric Dam and Electric Transmission Network Project. However, it ultimately decided not to fund the project. However, on April 19, 2010, the Chinese Government signed an RMB 120 million grant agreement and an RMB 20 million grant agreement with the Government of the Central African Republic to support the 10MW Boali III Hydroelectric Dam and Electric Transmission Network Project. Then, on November 28, 2015, the Chinese Government and the Government of the Central African Republic signed an Economic and Technical Cooperation Agreement (ETCA), which committed 9 billion CFA francs of grant funding for the 10MW Boali III Hydroelectric Dam and Electric Transmission Network Project and the Sapéké Bridge Reconstruction Project (see #52944 and #56184). Finally, in early September 2018, the Chinese Government committed another RMB 200 million grant — through an ETCA — to the Government of the Central African Republic, and an (unknown) portion of these funds was set aside for the 10MW Boali III Hydroelectric Dam and Electric Transmission Network Project. The total amount of funding allocated by China’s Ministry of Commerce for the Boali III Hydroelectric Dam and Electric Transmission Network Project was RMB 184 million. This project captures the RMB 120 million interest-free loan that supported this project, while #73346 captures the RMB 64 million of grant funding (from multiple ETCAs) that supported this project. The 10MW Boali III Hydroelectric Dam and Electric Transmission Network Project involves the installation of 2 sets 5MW generating units, the construction of the C substation, the construction three transmission and transformation lines (from No.3 power station to No.2 power station, from C power station to A power station and from C power station to B power station). Sheng Ji Oilfield Sheng Ji Engineering Construction (Group) Co., Ltd. (中国石化胜利油田胜建集团) is the contractor responsible for implementation. On July 22, 2011, a construction contract was signed. Then, on April 7, 2010, a project design contract with signed. Construction itself began on November 28, 2011. However, the project was later suspended due to violence and political instability. Then, on June 19, 2015, China’s Ambassador to CAR announced the resumption of project implementation. However, it was not until May/June 2018 that project implementation recommenced in earnest. This project is the reportedly the “largest Chinese aid project in the Central African Republic.”

Additional details

This project is also known as the Boali No. 3 hydropower station project. Chinese project title is 援中非博阿利3号水电站项目 or 中非博阿利3号水电站及配套输变电工程项目. The French project title is Le projet du barrage hydro électrique de Boali III et l’alimentation du réseau de transmission électrique de Boali. Since loan terms for the interest-free loan are unavailable, AidData has set maturity period to 20 years by default and grace period to 10 years by default per China's Foreign Assistance White Paper (http://www.cidca.gov.cn/2018-08/06/c_129925064_3.htm) which states that the maturity period of interest-free loans is 20 years, with a drawdown period of 5 years, grace period of 5 years, and repayment over 10 years. AidData treats the drawdown period as providing 5 years of additional grace.

Number of official sources

24

Number of unofficial sources

12

Download the dataset

Details

Cofinanced

No

Receiving agencies [Type]

Government of the Central African Republic [Government Agency]

Implementing agencies [Type]

Central African Republic Ministry of Energy and Water Resources [Government Agency]; Sinopec Petroleum Engineering & Construction Shengli Corporation [State-owned Company]; Xiang Kiang Electric Corporation [State-owned Company]

Loan type

Interest-Free

Maturity

20 years

Interest rate

0.0%

Grace period

10 years

Grant element

75.05159755%

Gurarantee provided

No

Insurance provided

No