China Eximbank provides RMB 16.7 million loan for Palapye Housing Project (150 Units) Project
Commitment amount
$ 4915042.29986542
Adjusted commitment amount
$ 4915042.3
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Botswana
Sector
Other social infrastructure and services (Code: 160)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
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.
Additional details
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".
Number of official sources
3
Number of total sources
5
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Botswana [Government Agency]
Implementing agencies [Type]
Botswana Housing Corporation [State-owned Company]
Complant Botswana (Ptya) Ltd. [State-owned Company]
Loan Details
Maturity
12 years
Interest rate
4.0%
Grace period
5 years
Grant element (OECD Grant-Equiv)
12.4787%