Overview

Chinese Government reschedules debt with Antigua & Barbuda from a 1992 loan for the construction of the Grays Green Gutter and additions to the Multi-Purpose Cultural Centre (Linked to Record ID#54707 and #60912)

Commitment Year•2011Country of Activity•Antigua and BarbudaDirect Recipient Country of Incorporation•Antigua and BarbudaSector•Action Relating To DebtFlow Type•Debt rescheduling

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2011

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

Receiving agencies

Government Agencies

Government of Antigua and Barbuda

Loan description

Chinese Government reschedules debt with Antigua & Barbuda from a 1992 loan for the construction of the Grays Green Gutter and additions to the Multi-Purpose Cultural Centre (Linked to Record ID#54707 and #60912)

Interest type•Fixed Interest RateMaturity•35 years

Narrative

Full Description

Project narrative

In July 1992, the Chinese Government provided a 8.5 million loan to Antigua & Barbuda for the construction of the Grays Green Gutter and additions to the Multi-Purpose Cultural Center. The payment period for the Construction of the Grays Green Gutter and additions to the Multi-purpose Cultural Centre was originally scheduled between October 1, 2002 to September 30, 2012 (a maturity period of 20 years). In 2011, the Chinese Government rescheduled the loan, extending it to September 2027 (a maturity period of 35 years). The new payment schedule was between October 1, 2017 to September 30, 2027.

Staff comments

The original funding is captured by Record ID#60912. Record ID#54707 captures new financing in 2011.