China Eximbank provides RMB 87.01 million government concessional loan for Container Scanner Acquisition Project (Linked to Project ID#56164)

On December 26, 2008, China Eximbank and the Government of Cape Verde signed an RMB 87,010,000 government concessional loan (GCL) for the Container Scanner Acquisition Project. This loan carried the following terms: 2% interest rate, 5-year grace period, and 20-year maturity. The Government of Cape Verde guaranteed RMB 85,045,963 of the total loan amount. Three tranches were disbursed according to the following schedule: (1) CVE 282.95 million on August 7, 2009, (2) CVE 565.594 million on December 4, 2009, and (3) CVE 97.043 million on December 19, 2011. The proceeds of the loan were to be used by the borrower to finance a commercial contract with Nuctech Company Limited. The project involved the acquisition of three container scanners for use at Port Grande, Port Palmeira, and Port Praia. Its ultimate purpose was to help Empresa Nacional de Administração dos Portos, S.A (ENAPOR) — the state-owned port authority — modernize customs and combat smuggling. Two technicians from Nuctech Company Limited arrived in Cape Verde in March 2009 to collect information in preparation for building and delivering the container scanners. The project was officially completed on December 6, 2010. Then, in 2018, the Chinese Government donated additional customs inspection equipment from Nuctech Company Limited (see Project ID#56164).

Additional details

1. The Portuguese project title is Projecto de Fornecimento e Manutenção do Sistema de Inspecção “THSCAN” or Aquisição de Equipamentos para Inspecção de Contentores.

Number of official sources

10

Number of total sources

14