China Eximbank provides RMB 94.4 million government concessional loan for Power Supply to the Irrigation System of the Third N'Sukala Sugar Refinery Project (Linked to Record ID#1506)

Project narrative

On October 22, 2013, Mali’s Minister of Economy and Finance, Buare Feili Sissoko, and China’s ambassador to Mali, Cao Zhongming, signed a loan framework agreement for the Power Supply to the Irrigation System of the Third N'Sukala Sugar Refinery Project. Then, a draft ordinance authorizing the ratification of an RMB 94.4 million government concessional loan (GCL) was signed in Bamako on October 30, 2013 and adopted during a Council of Ministers meeting chaired by Malian President Ibrahim Boubacar Keïta. In January 2014, The Malian government authorized the ratification of the loan in January 2014. The original borrowing terms of the loan included a 1% interest rate, and estimated maturity of 19.967 years, and an estimated grace period of 5.967 years. The borrower was expected to repay the lender in 28 consecutive, semi-annual principal payments. The project involved the provision of power supply to the irrigation system of the New Upper Kala Sugar Complex (Center-West). More specifically, it involved the installation of pivot irrigators, the construction of an agricultural electricity network, and the strengthening of the capacity of the turbo-generators. The ultimate objective was to significantly increase sugar production in Mali. China Light Industrial Corporation for Foreign Economic and Technical Cooperation (CLETC) was the contractor responsible for implementation. The project commenced on October 28, 2012 and concluded in February 2016.