MOFCOM provides RMB 25 million interest free loan -- via ETCA -- for the Sir Vivian Richards Cricket Stadium Construction Project (Linked to Project ID#39698)

On January 15-17, 2003, the Chinese Government and the Government of Antigua and Barbuda signed an Economic and Technical Cooperation Agreement (ECTA) and exchange of notes for the Sir Vivian Richards Cricket Stadium Construction Project. Then, on November 17, 2004, China's Ministry of Commerce (MOFCOM) and the Government of Antigua and Barbuda signed an RMB 25 million interest-free loan agreement for the Sir Vivian Richards Cricket Stadium Construction Project as part of an Economic and Technical Cooperation Agreement (ETCA). The terms of this loan are as follows: a 20 year maturity, a 10 year grace period, and a 0% interest rate. The Chinese Government also provided a $55 million East Caribbean Dollar grant to build the stadium (as captured via Project ID#39698). The total cost of the stadium was reported to be about $60 million USD. The purpose of the project was to construct Sir Vivian Richards Cricket Stadium, which is located in North Soud. The project had a construction area of about 23,000 square meters and the stadium had 9,324 seats. China Civil Engineering Construction Corporation (CCECC) was the contractor responsible for project implementation. The project broke ground on September 8, 2005 and was completed on October 14, 2006. An official handover ceremony took place on February 10, 2007.

Additional details

1. The Chinese project title is 维维安•理查德板球体育场. 2. AidData has coded the funding agency as MOFCOM as it is the sole administrator of China’s interest-free loan program. Some sources attached to this project record suggest that Bank of China was the funding agency. However, this very likely reflects the fact that MOFCOM disbursed the loan through a bank account that the borrower established with Bank of China.

Number of official sources

19

Number of total sources

23