Chinese Government provides RMB 72.5 million interest-free loan for National Wrestling Arena Construction Project (Linked to Project ID#53280 and #53002)

Starting in 2015, the Chinese Ministry of Commerce loaned 6 billion FCFA interest-free for construction of the National Arena Project in Senegal. This program was also funded with 3.091 billion FCFA from an unknown organization, denoted by the Senegalese Government as BCI-ETAT. The National Wrestling Arena began construction on April 7, 2016 and was handed over to the Senegalese government on July 22, 2018. The project was financed through this loan and through a grant (captured in #53280). For more details, the project is captured in #53002.

Additional details

CRS sector is coded as other social infrastructure and services, since project is listed under: Culture, Youth and Sports in the original source while the description states the project is for constructing the national arena. No description aside from program title and financial amounts was included in original source. Further information on what the project actually entails, exact date construction date, financial breakdown and implementation,as well as, identification of BCI-ETAT (the second part of the acronym 'ETAT' directly means state/state of) required. 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

16

Number of total sources

17