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Overview

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

Commitments (Constant USD, 2023)$12,067,630
Commitment Year•2015Country of Activity•SenegalDirect Recipient Country of Incorporation•SenegalSector•Other Social Infrastructure And ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2015
Start (actual)
Apr 7, 2016
End (planned)
Apr 1, 2018
End (actual)
Jul 22, 2018
First repayment (originally scheduled)
Dec 29, 2024
Last repayment (originally scheduled)
Dec 27, 2034

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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The National Wrestling Arena (or Arène nationale de lutte) is located in Pikine, a city within the Pikine Department of the Dakar Region. More detailed locational information can be found at https://www.openstreetmap.org/way/802003828#map=13/14.7612/-17.3988.

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

Government Agencies

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Government of Senegal

Implementing agencies

State-owned companies

  • Hunan Construction Engineering Group Co., Ltd.

Loan description

Chinese Government provides RMB 72.5 million interest-free loan for National Wrestling Arena Construction Project

Grace period•10 yearsGrant element•75.0516%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

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.

Staff comments

1. 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.