Overview

China Eximbank provides RMB 16.7 million loan for Palapye Housing Project (150 Units) Project

Commitments (Constant USD, 2023)$4,539,707

Commitment Year•2003Country of Activity•BotswanaDirect Recipient Country of Incorporation•BotswanaSector•Other Social Infrastructure And ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 25, 2003

First repayment (originally scheduled): Dec 31, 2007

Last repayment (originally scheduled): Dec 29, 2014

Geospatial footprint

Map overview

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This project involved the construction of 150 housing units in the town of Palapye.

Stakeholders

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

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

Government of Botswana

Implementing agencies

State-owned companies

Botswana Housing Corporation
Complant Botswana (Ptya) Ltd.

Loan desecription

China Eximbank provides RMB 16.7 million loan for Palapye Housing Project (150 Units) Project

Grace period•5 yearsGrant element•32.2102%Interest rate (t₀)•4%Interest type•Fixed Interest RateMaturity•12 years

Narrative

Full Description

Project narrative

In 2003, China Eximbank and the Government of Botswana signed a RMB 16,700,010 loan agreement for the Palapye Housing Project (150 Units) Project. This loan carried the following terms: a 12 year maturity, 5 year grace period, and 4% interest rate. Its final maturity date was July 2, 2015. The Government of Botswana used the proceeds from the loan to on-lend to the Botswana Housing Corporation (BHC) at a significantly higher interest rate (approximately 8.5%). The loan was approved on 25 March 2003. The BHC, in turn, used the proceeds from its subsidiary loan agreement with the Government of Botswana to construct 150 housing units in the town of Palapye. Complant Botswana (Pty) Ltd., a subsidiary of China National Overseas Engineering Corporation, was the contractor responsible for implementation. This project was completed, but its precise date of completion is unknown.

Staff comments

This project is also known as the BHC Palapye Housing Project and the Palapye BHC Houses - 150 Houses Project. The loan details can be found in the source "Government of Botswana External Debt Tables 2010".