China Eximbank pledges RMB 893 million loan for Lingarak-Lamap Road Rehabilitation and South West Bay Airport Project
Pledged amount
$ 160569413.83307058
Adjusted pledged amount
$ 160569413.83307058
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Vanuatu
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
In 2014, Export-Import Bank of China is expected to provide 893644606.66 RMB loan for Lingarak-Lamap Road Rehabilitation (including South West Bay Airport upgrading) project. The loan is not yet approved, but the Exim Bank requested a feasibility study from the Government of Vanuatu. An Economic Assessment was conducted by China Eximbank as part of a loan negotiation between the bank and the Government of Vanuatu. If approved, the loan would be for 893,644,606.66 RMB, or roughly 11.71 million Vatu. Construction would commence in October 2014 and end in September 2017, which is about 36 months duration ("VANUATU ECONOMIC ASSESSMENT OF THE LINGARAK-LAMAP ROAD REHABILITATION PROJECT MALEKULA ISLAND" pdf p.6). The project includes an 80 km road, 297 meters of bridges between Lingarak and Pankumu, 147 meters of bridges between Pankumu to Lamap, and the upgrade of the South West Bay Airport. The roads would be upgraded to Grade IV, with the subgrade widened to 6.5 meters, with a sealed surface of 5.5 meters. China Railway No.5 Engineering Group Co. Ltd. is the contractor. The current status of the project is unclear.
Number of official sources
2
Number of total sources
2
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Vanuatu [Government Agency]
Implementing agencies [Type]
China Railway No.5 Engineering Group Co., Ltd. (CR5) [State-owned Company]