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Overview

Chinese Government provides RMB 50 million interest-free loan for Swimming Pool Construction Project

Commitments (Constant USD, 2023)$14,316,916
Commitment Year•2000Country of Activity•MoroccoDirect Recipient Country of Incorporation•MoroccoSector•Other Social Infrastructure And ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2000
Start (actual)
Jun 30, 2002
End (actual)
Feb 1, 2005
First repayment
Dec 29, 2009
Last repayment
Dec 27, 2019

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% host country ownership

Funding agencies

Government Agencies

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Government of Morocco

Implementing agencies

State-owned companies

  • China National Complete Plant Import & Export Corporation Group (COMPLANT)

Loan desecription

Chinese Government provides RMB 50 million interest-free loan for Swimming Pool Construction Project

Grace period•10 yearsGrant element•75.0516%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

In June 2000, the Chinese Government and the Government of Morocco signed an RMB 50 million interest-free loan agreement for a Swimming Pool Construction Project. The maturity length and grace period of the loan are unknown. It is known that China’s Ministry of Commerce (MOFCOM) was the source of funding. The purpose of the project was to construct three indoor swimming pool in the cities of Kenitra (Kénitra), Fes (Fez), and Marrakech. The indoor swimming pool in Fez is located in the Al Adarissa district, adjacent to the Al Adarissa mosque. China National Complete Plant Import & Export Corp., Ltd. (COMPLANT) was responsible for the design and construction of the three pools. According to MOFCOM, project implementation commenced on June 30, 2002 and ended on January 31, 2005. A project handover certificate was issued on April 22, 2005. The Kenitra (Kénitra) Swimming Pool was completed on March 30, 2004, handed over to the Moroccan authorities on May 6, 2004, and opened and put into use on July 28, 2004. The Fez Swimming Pool was completed in September 2004, handed over to the Moroccan authorities on September 28, 2004, and opened and put into use on December 15, 2004. The Marrakech Swimming Pool was completely handed over to the Moroccan authorities on February 1, 2005. Each pool has six lanes and is 25 meters in length and 15 meters in width. The indoor pool facilities in Fez are equipped with changing rooms, shower rooms, grandstands, offices, depot, café, infirmary, gymnasium, restrooms, and terraces.

Staff comments

1. The Chinese project title is 三个游泳馆 or 3个奥林匹克标准室内游泳 or 于肯尼拉、非斯和马拉喀什的3个游泳馆项目 or 援摩洛哥三个游泳馆项目. The French project title is trois piscines couvertes de normes olympiques. 2. This RMB 50 million interest-free loan is not included in the database of Chinese loan commitments that SAIS-CARI published in July 2020. 3. Since the borrowing terms of the interest-free loan are unavailable, AidData has set the maturity to 20 years by default and grace period to 10 years by default, per China's Foreign Assistance White Paper (http://www.cidca.gov.cn/2018-08/06/c_129925064_3.htm) which states that the period of interest-free loans is 20 years, with a drawdown period of 5 years, grace period of 5 years, and repayment over 10 years. AidData treats the drawdown period as providing 5 years of additional grace.