Chinese Government provides RMB 30 million for Chinese Center for Economic and Commercial Development Construction Project (Linked to Record ID#7)

Project narrative

In 2002, the Chinese Government agreed to provide RMB 10 million of grant funding to the Government of Benin for the Chinese Center for Economic and Commercial Development Construction Project; however, the Chinese Government later increased its total grant commitment to RMB 30 million. The total project cost of RMB 50 million was 60% funded by the Chinese Government, and 40% funded by Zhejiang Teams-Marquis Investment Management Co. Ltd (also known as Zhejiang Tianshi International Economic and Technological Cooperation Co., Ltd. or TEAMS INTERNATIONAL DE CHINE) (see linked Record ID#7). The 5-story Chinese Center for Economic and Commercial Development is 9,700 square meters, and it had a construction area of 6,891 square meters. It is located in Cotonou's Ganhi Business Center, and it was designed to be a high-end business center that integrates exhibition, shopping, storage, business meetings, accommodations, and catering services. Zhejiang Teams-Marquis Investment Management Co. Ltd, sought to develop it as a “trade platform for Chinese products”. Ningbo Constrution Group was responsible for the construction of the center. A groundbreaking ceremony took place on 1 January, 2007. Construction began in 2008, and the center was officially inaugurated on 16 December, 2008.