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Overview

Chinese Government provides CVE 82 million interest-free loan for Salineiro Secondary School Construction Project (Linked to Record ID#371)

Commitments (Constant USD, 2023)$1,690,111
Commitment Year•2007Country of Activity•Cabo VerdeDirect Recipient Country of Incorporation•Cabo VerdeSector•EducationFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2007
End (actual)
Oct 5, 2009
First repayment
Dec 29, 2016
Last repayment
Dec 27, 2026

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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This project involved the construction of a secondary school in the village of Salineiro within Ribeira Grande de Santiago municipality. More detailed locational information can be found at: https://www.openstreetmap.org/way/775048324

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 Cabo Verde

Loan desecription

Chinese Government provides CVE 82 million interest-free loan for Salineiro Secondary School 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 2007, the Chinese Government and the Government of Cabo Verde reportedly signed an Economic and Technical Cooperation Agreement (ETCA), which committed an RMB 30 million interest-free loan for multiple projects (recorded in Record ID#371). The Government of Cabo Verde reportedly drew upon the proceeds of this loan to fully finance the Salineiro Secondary School Construction Project at a cost of CVE 82 million. This project involved the construction of a secondary school in the village of Salineiro within Ribeira Grande de Santiago municipality with 7 classrooms, a multi-use room, a teacher's room, and a secretariat. The contractor responsible for the implementation of this project is unknown. On October 5, 2009, the Salineiro Secondary School (Escola Secundária de Salineiro) was officially inaugurated. This project is completed.

Staff comments

1. The Portuguese project title is Construção da Escola Secundária de Salineiro. 2. This project is not included in the database of Chinese loan commitments to African governments that SAIS-CARI released in 2020. 3. Since the borrowing terms of the interest-free loan are unavailable, AidData has set 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 maturity 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.