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Overview

China Eximbank provides $35.9 million loan for Dorale-Nagad Railway Ramp Project

Commitments (Constant USD, 2023)$50,643,158
Commitment Year•2008Country of Activity•DjiboutiDirect Recipient Country of Incorporation•DjiboutiSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2008
Start (actual)
Jul 7, 2013
End (actual)
Jan 10, 2017

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 Djibouti

Implementing agencies

State-owned companies

  • China Railway Construction Corporation Limited (CRCC)

Loan description

China Eximbank provides $35.9 million loan for Dorale-Nagad Railway Ramp Project

Interest type•Unknown

Narrative

Full Description

Project narrative

On June 20, 2008, China Railway Construction Corporation and Djibouti's Minister of Equipment signed a memorandum of understanding (MOU) for the Dorale-Nagad Railway Ramp Project. Then, on December 7, 2011, China Eximbank and the Government of Djibouti signed a $35,956,760 (DJF 6,398,000,000) concessional loan agreement for the project. The borrowing terms of the loan are unknown. However, it is known that the borrower was expected to use the loan proceeds to finance a commercial contract with China Railway Construction Corporation, which was signed on April 15, 2009. The project involved the construction of a 12 km railway connection line from Dorale New Port to Nagad station in Djibouti. The originally expected duration of the construction period was two years. The project reportedly reached completion, but its precise implementation start and end dates are unknown.

Staff comments

1. The French project title is Bretelle de chemin de fer Dorale/Nagad or Liaison du Port de Doraleh à Nagad par une bretelle ferrée or le projet de construction d'un rail reliant Doraleh et Nagad.