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Overview

Chinese Government provides $15 million grant for Low-Income Housing Project

Commitments (Constant USD, 2023)$16,360,824
Commitment Year•2016Country of Activity•SurinameDirect Recipient Country of Incorporation•SurinameSector•Other Social Infrastructure And ServicesFlow Type•Grant

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 16, 2016
Start (planned)
Sep 30, 2019
Start (actual)
May 29, 2017

Geospatial footprint

Map overview

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The low-income housing project was constructed in Paramaribo. More detailed locational information can be found at: openstreetmap.org/relation/5740855

Stakeholders

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

Funding agencies

Government Agencies

  • China Ministry of Commerce
  • Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

  • Government of Suriname

Implementing agencies

Government Agencies

  • Government of Suriname

State-owned companies

  • China Gansu International Economic and Technical Cooperation Co., Ltd. (CGICOP)

Loan description

Chinese Government provides $15 million grant for Low-Income Housing Project

Narrative

Full Description

Project narrative

On December 16 and 20, 2016, an exchange of notes between the Chinese Government and the Government of Suriname was signed for the construction of housing projects. On May 29, 2017, the governments signed an agreement for the construction of 350 housing projects. The Chinese Government provided a grant of $15 million for the project. The estimated total cost of the project is 176 million RMB ($26.6 million). China Gansu International Economic and Technical Cooperation Corporation is the contractor responsible for project implementation. This 350-unit housing is part of a larger project of a grant of 1,000 homes from China. The 350 houses will be built at Sabaku Village in North Paramaribo, covering 25 hectares of ready-to-build land. The president formally announced the project on September 30th 2019, and reports indicated that materials were in transit.

Staff comments

Other names of the project include: “Affordable Housing Program (AHP),” “Agreement for Implementing the China-Aided Low-Cost Housing Project,” “1000 Houses China Grant project,” “Implementing the China_Aided Low-Cost Housing Project with the Chinese Government.” The transaction amount has been coded as $15 million per the Suriname Times source, however the "NonGovWrk" source suggests the 2017 budget for the project was $10 million.