China Eximbank provides 630 million RMB loan for the Malawi International Conference Centre and Business Hotel Project

On September 8, 2009, China Eximbank and the Government of Malawi signed a government concessional loan (GCL) loan agreement [CHINA EXIMBANK GCL NO. (2009 26) TOTAL NO. (227)] worth 630 million RMB for the Malawi International Conference Centre and Business Hotel Project. The loan was provided on the following terms: maturity of 20 years, grace period of 5 years, interest rate of 2%, management fee of 1%, and commitment fee of 0.75%.' This project supported the construction of the Bingu International Conference Centre, Presidential Hotel, and Presidential Villas. The groundbreaking ceremony took place on December 12, 2009. On April 3, 2012, the Chinese Government announced that it was ready to hand over the 1,500 seat International Conference Centre. The center has a 130-room business hotel, a 1,000-seat dining hall and 170,000-square meter presidential villas. On June 27, 2012, the Chinese Government officially handed over the Presidential Hotel, International Conference Centre and Presidential Villas to Government of Malawi. The project was built by Shanghai Construction Group in coordination with the Malawi Ministry of Transport, Public Works & Housing. This project is located in Lilongwe. More detailed locational information can be found at https://www.google.com/maps/place/Bingu+International+Conference+Center/@-13.9541897,33.7931997,15z/data=!4m5!3m4!1s0x0:0x4694987eaa1748e1!8m2!3d-13.9541897!4d33.7931997.

Additional details

The terms of this loan (interest rate, grace period, maturity) are not included in the SAIS-CARI database of Chinese loan commitments that was released in July 2020. AidData identified these lending terms in the loan agreement [CHINA EXIMBANK GCL NO. (2009 26) TOTAL NO. (227)] itself.

Number of official sources

11

Number of unofficial sources

5