Narrative
Full Description
Project narrative
In 2006, the Chinese Government and the Government of the Bahamas signed a loan agreement worth RMB 34 million for the Container Scanners Procurement Project. The face value of the loan was subsequently revised to RMB 32.5 million. The terms of the loan were as follows: 21 year maturity, 5 year grace period, 2% interest rate. The final loan maturity date is March 2027. The Government of Bahamas is the Recipient of this loan. On June 18th, 2008, during a meeting of Chinese Ambassador Hu and the official of Bahamas Customs Adley, Adley expressed the thanks for Chinese scanners and said it worked as the time of their meeting. The purpose of the project was to facilitate the acquisition of two cargo scanners from Tsinghua Tongfang Weishi Company to improve the efficiency and safety of cargo clearance in the Bahamas Customs. The loan reportedly covered 80% of the cost of the scanners. These scanners were put into operation at the Freeport Container Port in Grand Bahama. There is photographic evidence that these scanners successfully arrived at the Freeport Container Port in Grand Bahama.