Project ID: 955

China Eximbank provides 219 million RMB government concessional loan for Kigali Municipal Road Reconstruction Project (Linked to #52329)

Commitment amount

$ 41793655.2

Constant 2017 USD

Summary

Funding agency [Type]

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

Recipient

Rwanda

Sector

Transport and storage (Code: 210)

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

Implementation

2010

2010-09-01

Actual start

Completion

2011

2011-10-01

Actual

Description

On 24 October 2008, the Chinese Ambassador and Rwanda Minister of Finance signed a loan framework agreement for the Kigali Municipal Road Reconstruction Project. Then, on 27 March 2009, China Eximbank and the Rwanda Minister of Finance signed the final government concessional loan agreement (GCL) worth 219 million RMB for this road project. The loan terms are as follows: 20-year maturity, 6-year grace period, 2% interest rate, 1% management fee, and 0.3% commitment fee. It was ratified by the Rwanda legislature on 30 June 2009.This project involved the rehabilitation of nine roads in the city of Kigali with a total length of 36 kilometers. The contractor responsible for project implementation is China Road and Bridge Corporation (CRBC). The start of construction was delayed due to issues with land appropriation but construction had begun by September 2010. The project was ultimately completed in October 2011. Years later, China Eximbank provided an additional 488 million RMB loan for expanding 54 km of Kigali roads (see Project #52329).

Additional details

Chinese project title: 基加利市政道路改造项目 or 基加利市政36公里道路项目 or 基加利市政道路改升级造项目. The French project title is le projet de reconstruction des voiries de la Ville de Kigali. This project is also called the Kigali Urban Roads Upgrading Project or Kigali Urban Road Network or Kigali Urban Road Rehabilitation Project.

Number of official sources

16

Number of unofficial sources

3

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Details

Cofinanced

No

Receiving agencies [Type]

Rwanda Ministry of Finance [Government Agency]

Implementing agencies [Type]

China Road & Bridge Corporation (CRBC) [State-owned Company]

Loan type

Concessional

Maturity

20 years

Interest rate

2.0%

Grace period

6 years

Management fee

1.0

Commitment fee

0.3

Grant element

54.60537566%

Gurarantee provided

No

Insurance provided

No