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Overview

China Eximbank pledges $1.2 billion loan for 608 km Dakar-Kidira Railway Corridor Project. (Linked to Record ID#36445)

Commitments (Constant USD, 2023)$1,315,039,979
Commitment Year•2015Country of Activity•SenegalDirect Recipient Country of Incorporation•SenegalSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 22, 2015
Start (actual)
Jan 1, 2016
End (planned)
Jan 1, 2020
Last repayment (originally scheduled)
Dec 24, 2044

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

  • Government of Senegal

Implementing agencies

State-owned companies

  • China Railway Construction Corporation Limited (CRCC)

Loan desecription

China Eximbank pledges $1.2 billion loan for 608 km Dakar-Kidira Railway Corridor Project. (Linked to Record ID#36445)

Grant element•53.0332%Interest rate (t₀)•2%Interest type•Fixed Interest RateMaturity•30 years

Narrative

Full Description

Project narrative

On December 22, 2015, the China Railway Construction Corporation signed a $1,256,970,000 agreement to implement the rehabilitation of the Dakar-Kidira railway in Senegal. The financing for the project will be provided through a China Eximbank loan with an interest rate of 2% and a maturity 30 years. Whether China Eximbank has pledged to finance the project in part or in full is unknown. The Dakar-Kidira railway is a section of the Dakar-Niger Railway, which runs from Dakar, Senegal to Bamako, Mali. Originally called the ‘Chemin de fer Dakar-Niger’, the Dakar-Bamako-Koulikoro railway line connecting Dakar and Bamako through Thies, Tambacounda, Kidira, Kayes and Kita on a length of 1,288 km was built in various stages between 1885 to the 1920s. It is a metric gauge (1,000 mm) railway with low gradients and axle loads in the 15-17 tons range. The rehabilitation is planned to cover 633km of the railway, and should be completed within 4 years. Construction began in early 2016, and as of March 2020, the project was still under implementation. This project is related to #36445, which captures the Mali section of the railway.

Staff comments

The Chinese project title is 达巴铁路. Some sources identify different project costs, including $1.25 billion, $1.281 billion, and $1,256,970,000.