China Eximbank pledges 34 billion CFAF loan for Bangui M'Poko International Airport Modernization Project
Pledged amount
$ 78196068.93090893
Adjusted pledged amount
$ 78196068.93090893
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Central African Republic
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
Yes
Category
Project lifecycle
Description
On May 29, 2012, the legislature of the Central African Republic voted to create a new state-owned company called la Société de développement des infrastructures aéroportuaires de Centrafrique (or SODIAC). Shortly thereafter, Théodore Jousso, CAF’s Minister Delegate for the Presidency of the Republic in Charge of Civil Aviation and Air Transport, announced that SODIAC would contract 40 billion CFA francs, including 34 billion CFA francs, from China Eximbank for the Bangui M'Poko International Airport Modernization Project. The proceeds from the China Eximbank loan would cover approximately 85% of the of the cost of the Bangui M'Poko International Airport Modernization Project. The Government of the Central African Republic would seek funding from the Development Bank of Central African States (BDEAC) for the remaining 15%. The purpose of this project was to improve flight conditions and infrastructure at Bangui-Mpoko airport, including the airstrip, boarding lounges, shops and bars. However, it does not appear that a loan agreement was ever finalized with China Eximbank.
Additional details
The French project title is Aéroport International de Bangui M'Poko.
Number of official sources
3
Number of total sources
8
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Development Bank of Central African States (BDEAC) [Intergovernmental Organization]
Direct receiving agencies [Type]
Central African Republic Airport Infrastructure Development Corporation (SODIAC) [State-owned Company]
Implementing agencies [Type]
Government of the Central African Republic [Government Agency]