China Eximbank provides RMB 10 million loan for Zérégbo Gold Mining Development Project
Commitment amount
$ 2690829.8789999997
Constant 2017 USD
Summary
Funding agency [Type]
Export-Import Bank of China [State-owned Policy Bank]
Recipient
Cote d'Ivoire
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Concessional
Yes
Category
Project lifecycle
Geography
Description
According a French Institute of Geopolitics document (p. 471), on 14 March 2000, China Eximbank issued an RMB 10 million (CFAF 300 billion or €450 million) loan to Société d'Etat pour le Développement Minier de Côte d'Ivoire (SODEMI) — a state-owned mining company in Cote d'Ivoire — for the Zérégbo Gold Mining Development Project (see also: Mining Journal article). This loan carried the following terms: 15-year maturity, 5-year grace period, and a 3% interest rate. The proceeds of the loan were used to develop a gold mine in the village of Zérégbo, which is located in the central-western part of the country. This project was reportedly completed. However, it precise project implementation start and end dates are unknown.
Additional details
Note that the Chinese Loans to Africa Database says this loan was issued in 2001.
Number of official sources
1
Number of unofficial sources
2
Details
Cofinanced
No
Receiving agencies [Type]
Societe pour le Developpement Minier de la Cote d'Ivoire (SODEMI) [State-owned Company]
Implementing agencies [Type]
Societe pour le Developpement Minier de la Cote d'Ivoire (SODEMI) [State-owned Company]
Loan type
Concessional
Maturity
15 years
Interest rate
3.0%
Grace period
5 years
Grant element
41.43627952%
Gurarantee provided
No
Insurance provided
No