China Eximbank provides RMB 100 million government concessional loan for the Second Phase of Jamaica Water System Rehabilitation Project (Linked to Record ID#69263)

Project narrative

On April 14, 2000, the Export-Import Bank of China and the Government of Jamaica signed a RMB 100 million government concessional loan (GCL) agreement for the Second Phase of the Jamaica Water System Rehabilitation Project. According to internal records that Jamaica’s Ministry of Finance and the Public Service supplied to AidData in May 2020, the loan carried the following borrowing terms: a maturity period of 10.25 years, a grace period of 4.75 years, an interest rate of 4%, a commitment fee of 0.50%, and a management fee of 0.25%. The first scheduled date of loan repayment was January 1, 2005 and the final date of scheduled loan repayment was July 10, 2010. The proceeds of the loan were to be used by the borrower to acquire equipment and supplies to support the implementation of the Jamaica Water System Rehabilitation Project. As of October 30, 2021, the loan had achieved a 100% disbursement rate (RMB 100 million out of RMB 100 million). Its outstanding amount was zero as of October 30, 2021. China National Corporation for Overseas Economic Cooperation was the contractor responsible for project implementation. Given that the loan fully disbursed and China Eximbank funded a subsequent phase of the same project, AidData has assumed that the project reached completion (although the precise date of completion is unknown).