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Overview

China grants Barbados $1.32 million to renovate Cheapside Market in Bridgetown (linked to Record ID#73272)

Commitments (Constant USD, 2023)$2,970,046
Commitment Year•2003Country of Activity•BarbadosSector•Agriculture, Forestry, FishingFlow Type•Grant

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2003
Start (actual)
Jan 11, 2003
End (actual)
Oct 2, 2004

Geospatial footprint

Map overview

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This project involved the renovation of the Cheapside Market in Bridgetown, Barbados. More detailed locational information can be found at https://www.openstreetmap.org/relation/6065927

Stakeholders

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

Funding agencies

Government Agencies

  • Unspecified Chinese Government Institution

Implementing agencies

Government Agencies

  • Government of Barbados

Loan desecription

China grants Barbados $1.32 million to renovate Cheapside Market in Bridgetown (linked to Record ID#73272)

Narrative

Full Description

Project narrative

According to the Embassy of China in Barbados, an Economic and Technical Cooperation project on the renovation of the Cheapside Market in Bridgetown, Barbados was conducted from 2001-2002. From January 11-14, 2003, China and Barbados exchanged notes on the provision of aid for Barbados and the handover certificate for the Cheapside Market. An Annual Report and Financial Statements of the Accountant General of Barbados from 2008-2009 states that China provided Barbados a loan of 30 million RMB (USD $4,592,773.80) for a "Tech Co-op". Record ID#73272 captures that loan. As of March 31, 2009, $795,502 of the loan was still outstanding. From September 30 to October 2, 2004, the newly renovated market was unveiled during Chinese officials' visit to Barbados. A European Commissions Country Strategy paper from 2002-2007 states that China donated a total of USD $1.32 million to redesign the market. This project captures that grant. In 2015, Chinese Ambassador Wang Ke remarked that 22 grants to projects like the Cheapside Market have assisted Barbados. Thus, the $1.32 million is likely a grant separate from the 30 million RMB loan.

Staff comments

The Chinese Embassy source describes the Cheapside Market project as a "major joint venture" project, but no documentation of the details of a joint venture have been identified