China Eximbank provides $56.6 million preferential buyer's credit for Phase 1 of the Lomé Bypass Road Development and Asphalting Project (Linked to Project ID#68494 and #392)

On September 7, 2009, the Export-Import Bank of China and the Ministry of Economy and Finance of the Republic of Togo signed a $165 million preferential buyer’s credit (PBC) agreement for the Togolese Road Network Partial Renovation Project (see Project ID#392). The PBC carried the following terms: a maturity of 20 years, a grace period of 7 years, and an interest rate of 2%. Approximately $56,681,649.54 of the loan proceeds were used by the borrower to finance 85% of the cost of a $66,684,293.58 commercial contract [Marché N° 009/2008/MTPT/SG/DGTP] between the Government of Togo and China Road and Bridge Corporation (CRBC), which was signed on November 6, 2008. Phase 1 involved the development and asphalting of a 13.8 km bypass road from the Port of Lomé (at the east exit of National Route 2/3 or RN2/3) to the Lomé Golf Club (at National Route 1 or RN1). Phase 1 was intended to ease traffic in Lomé and improve the international trade to Togo's landlocked neighbors. CRBC was the engineering, procurement, and construction (EPC) contractor responsible for project implementation. A groundbreaking ceremony was held on February 3, 2010. The project was completed and the road was opened to traffic on or around October 18, 2014. The road segment was officially inaugurated in November 2014. The West African Development Bank (BOAD) and the Islamic Development Bank (IsDB) also issued loans in support of the Togolese Road Network Partial Renovation Project worth CFA 6.5 billion and CFA 90.5 billion, respectively.

Additional details

1. This project is also known as the Lomé Bypass Road Phase I Project and the Lomé Ring Road Phase I Project. The French project title is Projet d'aménagement et bitumage du grand contournement de Lomé (13,8km) or Amén.et bitumage voie contournement de Lomé or Travaux de réaménagement et de bitumage de la voie de contournement de lomé Tronçon 1 : RN2/3 à la sortie Est du Port de Lomé jusqu'à la RN1 (Golf Club de Lomé) or La première phase du Projet de Contournement de Lomé. The Chinese project title is 承建的多哥洛美绕城公路一期. 2. While some sources refer to the length of the road segment supported by Phase 1 as 13.8 km, other sources refer to its length as 14.1 km; AidData has elected to code the former as correct. Additionally, it is unclear specifically which day the project was completed; October 18, 2014 was the expected completion date in late 2013. The project had not been completed as of October 11, 2014, and was completed by October 31, 2014. In light of this information, AidData has coded October 18 as the completion date in the absence of more specific information. 3. China Eximbank also financed Phase 2 of the Lomé Bypass Road Development and Asphalting Project, which is captured via Project ID#68494.

Number of official sources

14

Number of total sources

19