China Eximbank provides RMB 540 million loan for Malawi University of Science and Technology (MUST) Project
Commitment amount
$ 89213366.57
Constant 2017 USD
Summary
Funding agency [Type]
Export-Import Bank of China [State-owned Policy Bank]
Recipient
Malawi
Sector
Education (Code: 110)
Flow type
Loan
Concessional
Yes
Category
Project lifecycle
Geography
Description
On February 18, 2011, China Eximbank signed an RMB 540,000,000 concessional loan for the Malawi University of Science and Technology (MUST) Project. The terms of the loan are as follows: 20 year maturity and 5 year grace period. The interest rate is unknown, but the loan is reportedly concessional in nature. This project involved the construction of the Malawi University of Science and Technology (MUST) in the district of Thyolo. The university was designed to accommodate 3,000 students. The contractor responsible for project implementation is China Anhui Foreign Economic Construction Corporation. Project implementation began on April 9, 2011. The project was scheduled for completion in time for the 2013/14 academic year and the official project handover ceremony took place on December 13, 2013.
Number of official sources
12
Number of unofficial sources
5
Details
Cofinanced
No
Receiving agencies [Type]
Government of Malawi [Government Agency]
Implementing agencies [Type]
Anhui Foreign Economic Construction Group Co., Ltd. (AFECC) [Private Sector]
Loan type
Concessional
Maturity
20 years
Grace period
5 years
Gurarantee provided
No
Insurance provided
No