China Eximbank provides $168 million loan for Chileka International Airport Rehabilitation Project
Pledged amount
$ 183094757.6436177
Adjusted pledged amount
$ 183094757.6436177
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
Malawi
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
In late 2018, Malawi's Parliament authorized the Government of Malawi to borrow the RMB equivalent of $168 million (about K122 billion) from China Eximbank loan for the Chileka International Airport Project. The purpose of this project was to rehabilitate the Chileka International Airport (齐莱卡国际机场) — specifically a terminal building and security fence. Rehabilitation work began in April 2019. However, in August 2019, the Government of Malawi admitted that it had failed to secure a $168 million loan from China Eximbank for the Chileka International Airport Rehabilitation Project.
Additional details
This loan is omitted from the SAIS-CARI database of Chinese loan commitments that was released in July 2020. Nor is it included in the Chinese Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020. AidData includes this loan in its dataset because the loan agreement was approved by Malawi's legislature in 2018. Some sources suggest that the proceeds of the China Eximbank loan may have also been used for the rehabiliation of the Kamuza International Airport (KIA).
Number of official sources
7
Number of total sources
24
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Malawi [Government Agency]