Chinese Government provides RMB 50.2 million interest-free loan for Kipsigak-Serem-Shamakhokho Road Project (Linked to Project ID#58024 and #108)

On April 24, 2002, the Chinese Government issued an RMB 50 million interest-free loan — through an Economic and Technical Cooperation Agreement (ETCA) — to the Government of Kenya for the Kipsigak-Serem-Shamakhokho Road Project. The face value of the loan was subsequently revised to RMB 50,278,653. The borrowing terms of the loan were as follows: a 19.75 year maturity, an 8 year grace period, and a 0% interest rate. The loan’s final maturity date was January 1, 2022. The borrower made no repayments between July 1, 2018 and June 30, 2022. The loan’s amount outstanding was RMB 10,055,730.60 as of June 30, 2020, RMB 10,055,730.60 as of June 30, 2021, and RMB 10,055,730.60 as of June 30, 2022. The project involved the construction of a 53.2 kilometer, 6-meter wide road that runs through ZakAnsah Province, Western Province and Rift Valley Province. The road begins in Kipsigak (a village near Kapsabet in Kilibwoni division with Nandi County) and proceeds to Serem (a village in Vihiga County) and then onward to Shamakhokho (a village in Vihiga County). Administratively, Kipsigak is a location in Kilibwoni division of Nandi County. The contractors responsible for project design and implementation were China WuYi Co. Ltd. and Henan Provincial Communications Planning, Survey & Design Institute Co. LTD. Project implementation commenced on October 24, 2002. The project was completed before the stipulated end of the contract period -- on November 6, 2006.

Additional details

1. The loan is recorded in the Government of Kenya's External Public Debt Register as 'Kipsigak-Serem-Shamakhokho Road 3 Loan No 10 - 2002005' or '2002005_1'. 2. The Chinese project title is 基塞沙公路 or 肯尼亚——基塞沙公路. 3. The Chinese Government supported this project with 3 consecutive, RMB 50 million interest-free loans: one in 1999, one in 2001, and one in 2002. This project record refers to the last of the three interest-free loans. 4. The amounts outstanding and repayments data are drawn from the Kenyan Treasury’s External Public Debt Register. See https://www.dropbox.com/s/549ixt2gj1jbjvi/External-Public-Debt-Register-as-at-End-June-2022.pdf?dl=0 and https://www.dropbox.com/s/0et4jg1qfg1bo7r/External-Public-Debt-Register-as-at-End-June-2021.pdf?dl=0 and https://www.dropbox.com/s/233j706743q7f1g/External-Public-Debt-Register-as-at-End-June-2020.pdf?dl=0 and https://www.dropbox.com/s/qkoybr9ja0ohemy/External-Public-Debt-Register-as-at-End-June-2009.pdf?dl=0 and https://www.dropbox.com/s/thy3s6ggjcjd97z/External-Public-Debt-Register-as-at-End-June-2012.pdf?dl=0 and https://www.dropbox.com/s/fzbfq01vas6m0i9/External-Public-Debt-Register-as-at-End-June-2019.pdf?dl=0 and https://www.dropbox.com/s/ennrl6d4zd2nizs/External-Public-Debt-Register-as-at-End-June-2018.pdf?dl=0 and https://www.dropbox.com/s/8ibazrj1a8oho2d/External-Public-Debt-Register-as-at-End-June-2017.pdf?dl=0 and https://www.dropbox.com/s/wdbjl0wq49i09x1/External-Public-Debt-Register-as-at-End-June-2015.pdf?dl=0

Number of official sources

6

Number of total sources

7