China Eximbank provides CFA 34 billion franc loan for Lomé Beach Sanitation Project

In 2015, the Export-Import Bank of China and the Government of Togo signed a loan agreement worth CFA 34,000,000,000 francs for the Lomé Beach Sanitation Project. The loan carried the following estimated borrowing terms: a 1.7806% interest rate, a 7.2732-year grace period, and a 19.7732-year maturity The purpose of the project was to create a wastewater treatment network at Lomé beach to clear out and prevent pollution by constructing a main pipe for the purification plant and rehabilitating the existing facilities. Togo's phosphate mines and processing plants have polluted the coast, leading to a decline in fishing populations and necessitating the project. The ultimate objective was to allow for the development of tourism and the resumption of fishing. A foundation laying ceremony for the project was held on April 24, 2015, attended by Prime Minister of Togo Arthème Ahoomey-Zunu.

Additional details

1. The French project title is Réseau d'assainissement de la plage de Lomé or Réseau d'assainissement des eaux usées de la plage de Lomé. 2. The China Eximbank loan supporting this project is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020. Nor is it included in the the Chinese Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020. 3. The estimated borrowing terms (maturity, grace period, and interest rate) of the loan are drawn from the World Bank's Debtor Reporting System (DRS). See https://www.dropbox.com/s/2sw4f7gluxa52fk/DRS%20Official%20Commitments%20from%20China%20Through%202021.xlsx?dl=0 and https://www.dropbox.com/s/ab8qt4n6jijcbhd/IDS_Average%20interest%20on%20new%20external%20debt%20commitments.xlsx?dl=0 and https://www.dropbox.com/s/949n5rctiue6d7c/IDS_Average_grace_period_and_maturity_on_new_external_debt_commitments.xlsx?dl=0

Number of official sources

3

Number of total sources

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