China Eximbank extends the grace period of a loan for Phase 2 of the 90kV Dakar Electricity Distribution Network Rehabilitation and Extension Project (Linked to Project ID#53283)

On January 14, 2011, the Export-Import Bank of China agreed to extend the grace period on an RMB 531 million loan that the Government of Senegal contracted for Phase 2 of the 90kV Dakar Electricity Distribution Network Rehabilitation and Extension Project (see Project ID#53283). The original terms of the China Eximbank loan were as follows: maturity period of 20 years, a grace period of 7 years, and an interest rate of 2%. The exact length of the grace period extension is unknown.

Additional details

1. Before this loan was contracted in 2011, the Chinese Government and the Government of Senegal signed a preferential loan framework agreement for this project on March 10, 2010. 2. This loan restructuring is omitted from the dataset of Chinese loan restructurings that SAIS-CARI released in the spring of 2020.

Number of official sources

2

Number of total sources

4