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Overview

China Eximbank provides $17.47 million loan for Phase 2 of the Rural Electrification Project

Commitments (Constant USD, 2023)$18,277,356
Commitment Year•2015Country of Activity•TogoDirect Recipient Country of Incorporation•TogoSector•EnergyFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2015
First repayment (originally scheduled)
Apr 8, 2022
Last repayment (originally scheduled)
Oct 5, 2034

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 Togo

Implementing agencies

Government Agencies

  • Government of Togo
  • Togo Ministry of Mines and Energy

Loan description

China Eximbank provides $17.47 million loan for Phase 2 of the Rural Electrification Project

Grace period•7.2732 yearsGrant element•57.7618%Interest rate (t₀)•1.7806%Interest type•Fixed Interest RateMaturity•19.7732 years

Narrative

Full Description

Project narrative

According to a report published by the Bilateral Cooperation Department of Togo’s Ministry of Planning and Development, the Export-Import Bank of China made loan disbursements worth $34,981,375 in 2015 for two projects: Phase 2 of the Rural Electrification Project (as captured via Record ID#53463) and the 161/66/20 kV Sokodé Substation and Transmission Line Construction Project (as captured via Record ID#72737). Then, in 2016, China Eximbank made a loan disbursement worth $17,470,258 for Phase 2 of the Rural Electrification Project. The loan carried the following estimated borrowing terms: a 1.7806% interest rate, a 7.2732-year grace period, and a 19.7732-year maturity. Phase 2 of the Rural Electrification Project involved the electrification of 39 rural localities in Togo; Togo's Ministry of Mines and Energy was the beneficiary ministry. The precise implementation start and end dates of the project are unknown. The contractor responsible for implementing this project is also unknown.

Staff comments

1. The French project title is Electrification rurale phase 2 (39 localités rurales). 2. This China Eximbank loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020. Nor is it included in the the Chinese Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020. 3. For the time being, AidData has reported the amount disbursed in 2016 as the transaction (loan commitment) amount since it is unclear how the $34,981,375 disbursement in 2015 was divided between Phase 2 of the Rural Electrification Project and the 161/66/20kV Sokodé Substation and Transmission Line Construction Project. The commitment year is recorded as 2015, as the loan was committed by then, although with the "Year uncertain" box checked in the absence of a confirmed commitment year. 4. The estimated borrowing terms (maturity, grace period, and interest rate) of the loan are drawn from the World Bank's Debtor Reporting System (DRS). See https://www.dropbox.com/s/2sw4f7gluxa52fk/DRS%20Official%20Commitments%20from%20China%20Through%202021.xlsx?dl=0 and https://www.dropbox.com/s/ab8qt4n6jijcbhd/IDS_Average%20interest%20on%20new%20external%20debt%20commitments.xlsx?dl=0 and https://www.dropbox.com/s/949n5rctiue6d7c/IDS_Average_grace_period_and_maturity_on_new_external_debt_commitments.xlsx?dl=0