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Overview

Chinese Government RMB 40 million interest-free loan for Megenagna-Kebena Bridge-Arat Killlo and Kebena Bridge-Menelik II Hospital (5.8 km) Urban Arterial Road Project

Commitments (Constant USD, 2023)$9,415,091
Commitment Year•2006Country 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
Apr 11, 2006
End (actual)
Apr 24, 2010
First repayment (originally scheduled)
Apr 8, 2016
Last repayment (originally scheduled)
Apr 6, 2026

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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The purpose of this project was to fund construction or rehabilitation of 5.8 km of roads from Kebena Bridge Square to Menelik II Hospital and from Megenagna to Arat Killlo via Kebena Bridge in Addis Ababa. More detailed locational information can be found at: https://www.openstreetmap.org/directions?engine=graphhopper_car&route=9.03463%2C38.77740%3B9.03291%2C38.76337 and https://www.openstreetmap.org/directions?engine=graphhopper_car&route=9.03472%2C38.77756%3B9.03822%2C38.77375 and https://www.openstreetmap.org/directions?engine=graphhopper_car&route=9.0214%2C38.8016%3B9.0349%2C38.7775

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

State-owned companies

  • China Road & Bridge Corporation (CRBC)

Loan desecription

Chinese Government RMB 40 million interest-free loan for Megenagna-Kebena Bridge-Arat Killlo and Kebena Bridge-Menelik II Hospital (5.8 km) Urban Arterial Road Project

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

Narrative

Full Description

Project narrative

On April 11, 2006, the Chinese Government and the Government of Ethiopia signed an interest-free loan agreement worth approximately RMB 40 million for the Megenagna-Kebena Bridge-Arat Killlo and Kebena Bridge-Menelik II Hospital (5.8 km) Urban Arterial Road Project. According to the Government of Ethiopia’s Aid Management Platform (AMP), the loan fully disbursed in a single tranche on March 31, 2011. According to the Chinese Embassy in Ethiopia, the project was co-financed with the Addis Ababa City Administration. The purpose of this project was to construct or rehabilitate 5.8 km of roads from Kebena Bridge Square to Menelik II Hospital and from Megenagna to Arat Killlo via Kebena Bridge. China Road and Bridge Corporation (CRBC) was the contractor responsible for implementation. On April 24, 2010, an official project completion ceremony for the Kebena Square-Arat Kilo Road Project was held at the Kebena Bridge Square in the capital city of Addis Ababa.

Staff comments

1. This project is also known as the Kebena Square-Arat Kilo Road Project and the Maganagna - Kebena - Menelik Hospital and Kebena Bridge - Arat Killo Road Project. 2. The precise borrowing terms of the interest-free loan are unknown. Therefore, standard MOFCOM interest-free loan borrowing terms (0% interest rate, 10 year grace period, 20-year maturity) are assumed. 3. The AMP system identification number for the project is 87143123101090. 4. AidData relies on the following MOFED estimate of the face value of the loan: https://www.sciedupress.com/journal/index.php/jms/article/viewFile/25488/16079. The Government of Ethiopia's Aid Management Platform identifies the face value of the loan as ETB 129,552,941. 1 Ethiopian Birr (ETB) was equal to 0.96 Chinese yuan (RMB) in April 2006, which implies that the ETB 129,552,941 loan commitment for the Megenagna-Kebena Bridge-Arat Killlo and Kebena Bridge-Menelik II Hospital (5.8 km) Urban Arterial Road Project recorded in the AMP was worth RMB 124,370,823.36 at that time that it was contracted. This discrepancy warrants further investigation. 5. This MOFCOM loan is not included in the database of Chinese loan commitments that SAIS-CARI released in 2020 and re-released in 2021. Nor was it included it in the Chinese Loans to Africa (CLA) Database — that is maintained by Boston University's Global Development Policy Center — as of August 2024.