China Eximbank provides a $22.1 million USD loan to the Port Authority of Jamaica for the purchase of goods and services (Linked to Project ID#57003, #69122, and #69139)

On July 19, 2006, the Export-Import Bank of China and the Port Authority of Jamaica signed a $22,118,868 loan agreement for the purchase of goods and services. 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 an interest rate of 6.07%. 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 ($22,118,868 out of $22,118,868). Its outstanding amount was zero as of October 30, 2021.

Additional details

1. The China Eximbank loan that supported this project is not included in the China-Latin America Finance Database, co-produced by the Inter-American Dialogue and Boston University’s Global Development Policy Center. 2. This project is linked to project ID#57003, #69122, and #69139 because all four projects relate to the larger Jamaican goal of renovating port facilities. 3. Project_status field has been set to Completion because all Chinese financing was disbursed.

Number of official sources

6

Number of total sources

11