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Overview

China Eximbank provides $168 million loan for Chileka International Airport Rehabilitation Project

Commitments (Constant USD, 2023)$169,057,777
Commitment Year•2018Country of Activity•MalawiDirect Recipient Country of Incorporation•MalawiSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2018
Start (actual)
Apr 1, 2019
End (actual)
Dec 31, 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

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

  • Government of Malawi

Loan desecription

China Eximbank provides $168 million loan for Chileka International Airport Rehabilitation Project

Interest type•Unknown

Narrative

Full Description

Project narrative

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.

Staff comments

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).