[Cancelled] China Eximbank provides CFA 58 billion oil-backed loan for Massakory-Moussoro Road Construction Project (Linked to Umbrella Project #56198)
Commitment amount
$ 133393294.05860935
Adjusted commitment amount
$ 133393294.05860935
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
Chad
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
In 2012, China Eximbank reportedly issued a CFA 58 billion oil-backed loan for the Massakory-Moussoro Road Construction Project. This project involved the tarmacking of a 135 km road that links Massakory to Moussoro in the north of Chad (马萨科里-穆索罗135公里公路项目). Its ultimate purpose was to ease transportation between N’Djamena and Niamey and link Chad to various parts of North Africa. China Civil Engineering Group Co., Ltd. was the contractor responsible for implementation. A foundation-laying ceremony was held on January 31, 2013 and the project was expected to take 36 months to complete. However, this project was not completed with financing from China Eximbank. Although it was initially approved for financing through a subsidiary loan under the Master Loan Facility Agreement (MLFA) that the Government of Chad signed with China Eximbank in 2011 (captured in #56198), the MLFA was subsequently cancelled in December 2013. Therefore, AidData has status-coded this project as cancelled.
Number of official sources
2
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Chad [Government Agency]
Implementing agencies [Type]
China Civil Engineering Construction Corporation (CCECC) [State-owned Company]
Collateral
oil export receipts
Loan Details
Maturity
20 years
Interest rate
5.5%
Grace period
5 years
Grant element (OECD Grant-Equiv)
23.7876%