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Overview

Chinese Government provides RMB 50 million interest-free loan — via ETCA — for Senate Building Construction Project (Linked to Record ID#1588 and #60483 and #60606)

Commitments (Constant USD, 2023)$11,768,864
Commitment Year•2006Country of Activity•GabonDirect Recipient Country of Incorporation•GabonSector•Government And Civil SocietyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Aug 21, 2006
Start (actual)
Jul 24, 2003
End (actual)
Nov 3, 2005
First repayment
Dec 30, 2015
Last repayment
Dec 27, 2025

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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This project involved the construction of the Omar Bongo Ondimba Palace Senate Building on Boulevard Triomphal Omar Bongo Ondimba in the capital city of Libreville. More detailed locational information is available at https://www.openstreetmap.org/relation/3369330.

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 Gabon

Implementing agencies

State-owned companies

  • Shanghai Construction Group General Co.

Loan desecription

Chinese Government provides RMB 50 million interest-free loan — via ETCA — for Senate Building Construction 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 December 13, 2000, the Chinese Government and the Government of Gabon signed an Economic and Technical Cooperation Agreement (ETCA or 经济技术合作协议), which committed an RMB 50 million interest-free loan for the Senate Building Construction Project. Then, on November 20, 2001, the Chinese Government and the Government of Gabon signed an Economic and Technical Cooperation Agreement (ETCA), which committed an additional RMB 60 million interest-free loan for the Senate Building Construction Project. Then, on August 21, 2006, the Chinese Government and the Government of Gabon signed an Economic and Technical Cooperation Agreement (ETCA), which committed an additional RMB 50 million interest-free loan for the Senate Building Construction Project. Record ID#60483 captures the RMB 50 million interest-free loan in 2000. Record ID#1588 captures the RMB 60 million interest-free loan in 2001. Record ID#60606 captures the RMB 50 million interest-free loan in 2006. This project involved the construction of the Omar Bongo Ondimba Palace Senate Building (also known as Palais Omar Bongo Ondimba) on a plot of 44,075 m2 in the capital city of Libreville. Shanghai Construction Group was the contractor responsible for implementation. A foundation laying ceremony took place in the presence of the Gabonese President on May 25, 2001. However, construction did not begin until July 24, 2003. A project completion ceremony took place on November 4, 2005.

Staff comments

This project is also known as the Omar Bongo Ondimba Palace Senate Building Construction Project. The Chinese project title is 我援加蓬参议院大厦项目. The Chinese Government also committed an RMB 30 million interest-free loan for this project on October 11, 1999. 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.