China Eximbank provides a $2.4 million USD loan for the Four Shore Based Container Handling Gantry Project (Linked to Record ID#57003, #69122, and #69143)

Project narrative

On July 19, 2006, the Export-Import Bank of China and the Port Authority of Jamaica signed a $2,457,656 loan agreement for the Four Shore Based Container Handling Gantry Project. The purpose of this project was to acquire goods and services related to four shore-based pieces of container handling gantry equipment at the Kingston Container Terminal. According to internal records that Jamaica’s Ministry of Finance and the Public Service supplied to AidData in May 2020, the loan carried the following borrowing terms: a maturity period of 2.5 years, a grace period of 1 year, and a LIBOR-based interest rate. The first date of loan repayment was July 21, 2008 and the maturity date of the loan was January 21, 2009. The Government of Jamaica provided a sovereign guarantee for the loan. As of October 30, 2021, the loan had achieved a 100% disbursement rate ($2,457,656 out of $2,457,656). Its outstanding amount was $0 as of October 30, 2021. The equipment was reportedly delivered in September 2007.