Chinese Government provides $6 million interest-free loan for Malabo Television Center Construction Project

In 2002, China’s Ministry of Commerce and the Government of Equatorial Guinea signed a $6 interest-free loan agreement for the Malabo Television Center Construction Project. The borrower was expected to use the proceeds of the loan to finance a contract between the Government of Equatorial Guinea and Dalian International Corporation, which was signed on November 5, 2002. This project involved the construction of the headquarters building for the state-run radio and television company, Radio Televisión de Guinea Ecuatorial (RTVGE), in Malabo. On December 13, 2004, Dalian International Corporation signed a project implementation agreement with China’s Ministry of Commerce. Construction began on August 28, 2005. Then, on August 31, 2005, Ms. Plyfi Cassio Opo Barilla, Secretary of State for News, Radio and Television, and Secretary-General Ramon Bengono led the Director of Information and other relevant personnel to inspect the project. Construction ended in September 2006. The project was officially handed over to the Equatorial Guinean Government on January 2, 2007.

Additional details

1. This project is also known as the National Television Center Construction Project and the RTVGE Construction Project. The Chinese project title is 马拉博电视中心目 or 援赤几马拉博电视中心项目 or 援赤几马拉博电视中心项目 or 赤道几内亚马拉博广播电视中心. The Spanish project title is Centro de Televisión de Malabo or Rehabilitacion del edificio sede de la Radio Television Guinea Ecuatorial en Malabo or Eel proyecto de ayuda en la Construcción del Centro de Televisión de Guinea Ecuatorial, Malabo. 2. Since the borrowing terms of 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. 3. According to the Autonomous Fund for Amortization of Public Debt (Caja Autónoma de Amortización de la Deuda Pública) within Equatorial Guinea’s Ministry of Finance and Budget, the Chinese Government provided an RMB 11,500,000 interest-free loan — through an Economic and Technical Cooperation (ECTA)— for an unspecified purpose on October 21, 2002. The loan had fully disbursed as of December 31, 2019. The borrower had not made any interest or principal repayments as of December 31, 2019. However, it is unclear if the proceeds of this loan were used to partially support the Malabo Television Center Construction Project. This issue warrants further investigation. 4. The contract that was signed on November 5, 2002 is known as the Contrato de diseño del proyecto de ayuda en la Construcción del Centro de Televisión de Guinea Ecuatorial, Malabo.

Number of official sources

20

Number of total sources

23