Chinese Government provides RMB 40 million interest-free loan — via ETCA — for Bata Ministry of Foreign Affairs Office Building Construction Project

Project narrative

On May 4, 2005, the Chinese Government and the Government of Equatorial Guinea signed and Economic and Technical Cooperation Agreement (ETCA), which committed an interest-free loan for the Bata Ministry of Foreign Affairs Office Building Construction Project. The face value of this loan from China’s Ministry of Commerce (MOFCOM) was RMB 40 million.. According to the Autonomous Fund for Amortization of Public Debt (Caja Autónoma de Amortización de la Deuda Pública) within Equatorial Guinea’s Ministry of Finance and Budget, this loan had disbursed RMB 35,240,000 as of December 31, 2019. The borrower had not made any principal or interest payments as of December 31, 2019. As such, the loan's principal amount outstanding was RMB 35,240,000 as of December 31, 2019. The project involved the construction of a three-story Ministry of Foreign Affairs office building in the city of Bata (in an area along the Airport Road that occupies 4650 square meters). China National Electric Engineering Co. Ltd and Beijing Municipal Construction Co Ltd were the contractors responsible for implementation. On April 28, 2007, a design contract signing ceremony was held. Pre-construction project preparations began on February 10, 2008. Then, on April 2, 2008, a construction contract was signed. The project was ultimately completed on October 12, 2009.