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Overview

Chinese Government provides $12 million interest-free loan for ring road and low-cost housing in Addis Ababa

Commitments (Constant USD, 2023)$27,870,261
Commitment Year•2001Country of Activity•EthiopiaDirect Recipient Country of Incorporation•EthiopiaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jun 21, 2001
Start (actual)
Mar 6, 1998
End (actual)
Jun 28, 2004
First repayment
Dec 30, 2010
Last repayment
Dec 27, 2020

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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Detailed locational information on the route of this ring road can be found at: https://journals.openedition.org/poldev/docannexe/image/2695/img-1.png and https://journals.openedition.org/poldev/2695?lang=fr and https://www.openstreetmap.org/way/531992901 and https://www.openstreetmap.org/way/162706162 and https://www.openstreetmap.org/way/25091643 and https://www.openstreetmap.org/way/24993666 and https://www.openstreetmap.org/way/24993660 and https://www.openstreetmap.org/way/24993664 and https://www.openstreetmap.org/way/547929972 and https://www.openstreetmap.org/way/115590820 and https://www.openstreetmap.org/way/115590822 and https://www.openstreetmap.org/way/761078828 and https://www.openstreetmap.org/way/151549494 and https://www.openstreetmap.org/way/23411086 and https://www.openstreetmap.org/way/760406138 and https://www.openstreetmap.org/way/23411083 and https://www.openstreetmap.org/way/757910159 and https://www.openstreetmap.org/way/118633466 and https://www.openstreetmap.org/way/709881944 and https://www.openstreetmap.org/way/757910152 and https://www.openstreetmap.org/way/757910209 and https://www.openstreetmap.org/way/95458353 and https://www.openstreetmap.org/way/80416716 and https://www.openstreetmap.org/way/43292683 and https://www.openstreetmap.org/way/66098986 and https://www.openstreetmap.org/way/49417002 and https://www.openstreetmap.org/way/761233758 and https://www.openstreetmap.org/way/70108283 and https://www.openstreetmap.org/way/104681693 and https://www.openstreetmap.org/way/8104263

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 Ethiopia

Implementing agencies

Government Agencies

  • Government of Ethiopia

State-owned companies

  • China Road & Bridge Corporation (CRBC)

Loan desecription

Chinese Government provides $12 million interest-free loan for ring road and low-cost housing in Addis Ababa

Grace period•10 yearsGrant element•75.0516%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

In 2001, the Chinese government provided a $12 million interest-free loan to the Government of Ethiopia in support of the construction of the ring road project in the capital of Addis Ababa and the construction of low-cost houses in the metropolis. The ring road was constructed by the China Road and Bridge Corporation (CRBC) between 1998 and 2004 at a total cost of $98 million. According to a report from the International Conference on Multi-National Construction Projects, the project included the construction and upgrading of 33.4 km of highway, and the upgrading of 14.2km of bituminous asphalt concrete surfacing and the construction of 19.2km of new road, 41 new structures, 6 flyover bridges, 23 pedestrian bridges, and 12 culverts. This project was initiated on March 6, 1998 and completed on June 28, 2004.

Staff comments

Since loan terms for the interest-free loan are unavailable, AidData has set maturity period 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.