Overview

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

Commitments (Constant USD, 2023)$41,506,412

Commitment Year•2006Country of Activity•JamaicaDirect Recipient Country of Incorporation•JamaicaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 19, 2006

End (actual): Sep 1, 2007

First repayment (originally scheduled): Jul 19, 2007

Last repayment (originally scheduled): Jan 16, 2009

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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China Eximbank provides a $22.1 million USD loan to the Port Authority of Jamaica for the purchase of goods and services. More detailed locational information can be found at: https://www.openstreetmap.org/node/3596828756

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

Port Authority of Jamaica

Implementing agencies

Government Agencies

Port Authority of Jamaica

Guarantors

Government Agencies

Government of Jamaica

Loan desecription

China Eximbank provides a $22.1 million USD loan to the Port Authority of Jamaica for the purchase of goods and services

Grace period•1 yearsGrant element•5.7644%Interest rate (t₀)•6.07%Interest type•Fixed Interest RateMaturity•2.5 years

Narrative

Full Description

Project narrative

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.

Staff comments

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 Record 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.