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Overview

China Development Bank provides loan to Hainan Century Investment Company for the construction of 30,000 low- and medium cost housing units in Liberia

Commitment Year•2009Country of Activity•LiberiaDirect Recipient Country of Incorporation•China (People's Republic of)Sector•Other Social Infrastructure And ServicesFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2009
Start (actual)
Jun 7, 2009

Geospatial footprint

Map overview

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The purpose of the project is to provide loanS to Hainan Century Investment Company for the construction of 30,000 low- and medium-cost housing units in Liberia. More detailed location information can be found at: https://www.openstreetmap.org/node/2995981058

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% Chinese ownership

Funding agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

Private Sector

  • Hainan Century Investment

Implementing agencies

Private Sector

  • Hainan Century Investment

Loan desecription

China Development Bank provides loan to Hainan Century Investment Company for the construction of 30,000 low- and medium cost housing units in Liberia

Interest type•Unknown

Narrative

Full Description

Project narrative

In her annual message to the Fifth Session of the 52nd National Legislature of the Republic of Liberia, president Ellen Johnson Sirleaf reported the National Housing Authority (NHA) is partnering with two potential investors to construct low- and middle-income affordable housing. Under arrangements with the Hainan Century Investment Company of Mainland China, 1,000 low-cost housing units are to be constructed initially in Marshall, and 10,000 throughout the country. Five hundred units now under construction on 150 acres, a mile from the Rafiki Village, are expected to be completed and available for sale and occupation before the end of this year. She also reported that with the backing of the China Development Bank, the project has been expanded to include 30,000 units nationwide. A contract has been concluded with Broad Cove Partners (BCP) of the United States for the construction of 1,200 middle-income housing units, to be located on 300 acres in Scheifflin, Margibi County. On 7th June 2009, President Ellen Johnson Sirleaf broke grounds for the construction of 1,000 housing units located on Marshall Road in Margibi County. It is unclear what the financing of CDB is.