Chinese Government provides RMB 102.16 million interest-free loan for 33 km Niefang-Nkue Road Construction Project

In 2001, the Chinese Government and the Government of Equatorial Guinea signed an interest-free loan agreement for the 33 km Niefang-Nkue Road Construction Project. China’s Ministry of Commerce reportedly committed RMB 102.16 million in total. The project involved the construction of a 33.222 km, seven meter wide road — with a design speed of 40 km per hour — between Niefang and Nkue. Hunan Provincial Communications Planning & Design Institute Co. Ltd was responsible for project design, China Road & Bridge Corporation (CRBC) was the contractor responsible for project implementation, and Tianjin New Asia Pacific Engineering Construction Supervision Company was responsible for project supervision. The project officially commenced on February 12, 2001 and the road was opened to traffic on May 9, 2003. The road was built in accordance with Chinese highway standards.

Additional details

The Chinese project title is 与了赤道几内亚涅方-恩圭公路项目 or 赤道几内亚涅方—恩圭段公路. Since loan terms for the interest-free loan are unavailable, AidData has set maturity period to 20 years by default and grace period to 10 years by default per China's Foreign Assistance White Paper (http://www.cidca.gov.cn/2018-08/06/c_129925064_3.htm) which states that the maturity period of interest-free loans is 20 years, with a drawdown period of 5 years, grace period of 5 years, and repayment over 10 years. AidData treats the drawdown period as providing 5 years of additional grace.

Number of official sources

8

Number of total sources

12