China finances construction of Estate & Elmshall Housing Project
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Dominica
Sector
Other social infrastructure and services (Code: 160)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
In the 2013-2014 Budget Address, it was reported that apartment buildings will be constructed at Elmshall and Bath Estate with resources from the Government of China. It was later reported that the Bath Estate Housing Project, was funded through a soft loan from China, commenced in 2014 with a view to providing low-cost, comfortable accommodation for low-income families. The lender for this project is China Eximbank and the project is being supported by a government concessional loan (GCL) that is funded through a RMB 280 million framework loan agreement (project #39846). The project comprises of two and tree bedroom apartments; 36 in Elmshall and 24 in Bath Estate. The apartment complexes were constructed by a Chinese firm, Shanghai Construction Company. The 60 apartments were handed over to the Dominica government on April 26, 2017 and was used to meet the housing needs of working class people in Roseau Central.
Additional details
The project is referred to as "罗索谷安置房" in Chinese.
Number of official sources
4
Number of total sources
9
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Dominica [Government Agency]
Implementing agencies [Type]
Shanghai Construction Engineering Group (SCG) (上海建工) [State-owned Company]
Loan Details
Maturity
20 years
Interest rate
2.0%
Grace period
5 years
Grant element (OECD Grant-Equiv)
33.1362%