Project ID: 776

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

Commitment amount

$ 120228323.2

Constant 2017 USD

Summary

Funding agency [Type]

Export-Import Bank of China [State-owned Policy Bank]

Recipient

Malawi

Sector

Government and civil society (Code: 150)

Flow type

Loan

Concessional

Yes

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2009

Completion

2012

2012-06-27

Actual

Geography

Description

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

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Malawi [Government Agency]

Implementing agencies [Type]

Malawi Ministry of Transport, Public Works & Housing [Government Agency]; Shanghai Construction Group General Co. [State-owned Company]

Loan type

Concessional

Maturity

20 years

Interest rate

2.0%

Grace period

5 years

Management fee

1.0

Commitment fee

0.75

Grant element

53.10116182%

Gurarantee provided

No

Insurance provided

No