China Eximbank provides $8 million concessional loan for Independence Stadium Grandstand Rehabilitation Project (Linked to Project ID#2339)

In July 2010, China Eximbank and the Government of Zambia signed a $8 million concessional loan agreement for the Independence Stadium Grandstand Rehabilitation Project. The borrowing terms of the loan are unknown. The project involved the construction of the new National Heroes Stadium and the repair of the old Independence Stadium in Lusaka. The latter had been closed for several years due to safety concerns. Shanghai Construction Group was the contractor responsible for project implementation. The contract originally specified that works would commence on July 6, 2011 and end on January 6, 2014. A formal groundbreaking ceremony took place on January 10, 2011. Construction began on July 6, 2011 and ended on October 30, 2013. It was officially handed over to the Government of Zambia's Ministry of Youth and Sport on June 2, 2014. Once Independence Stadium was opened, it was reportedly only used for practices and warm ups.

Additional details

1. Another $86.1 million China Eximbank concessional loan was issued for the National Heroes Stadium (AKA Lusaka National Stadium) Construction Project (as captured via Project ID#2339).

Number of official sources

14

Number of total sources

26