Project ID: 99

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

Commitment amount

$ 26938082.37

Constant 2017 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Equatorial Guinea

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

Estimated.

2001

Completion

2003

2003-05-09

Actual

Geography

Description

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 unofficial sources

4

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Equatorial Guinea [Government Agency]

Implementing agencies [Type]

China Road & Bridge Corporation (CRBC) [State-owned Company]; Government of Equatorial Guinea [Government Agency]; Hunan Provincial Communications Planning Survey & Design Institute [State-owned Company]; Tianjin New Asia Pacific Engineering Construction Supervision Company [State-owned Company]

Loan type

Interest-Free

Maturity

20 years

Interest rate

0.0%

Grace period

10 years

Grant element

75.05159755%

Gurarantee provided

No

Insurance provided

No