Completed Mixed AidData Chinese Aid

China Eximbank offers $100 million preferential buyer’s credit for Walvis Bay Port Expansion Project (Linked to Umbrella Record ID#62351)

$100M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Namibia
Country	Namibia
Start Date	Feb 05, 2007
End Date	Jan 12, 2026
Duration	6,916 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`1235`

Grant Description

China Eximbank offers $100 million preferential buyer’s credit for Walvis Bay Port Expansion Project On February 5, 2007, President of China, Hu Jintao, pledged that China Eximbank would provide a $100 million preferential buyer's credit (PBC) for the Walvis Bay Port Expansion Project. The purpose of this project was to expand the Walvis Bay container terminal.

The Port of Walvis Bay is operated by the Namibian Port Authority (Namport) and serves as a gateway linking some of southern Africa’s major trading regions to international markets.

The purpose of this project was to raise the container throughput capacity from 355,000 TEUs to 1,005,000 TEUs was initiated in response to increased trade-related traffic volumes.

The project scope involved the construction of a new container terminal on reclaimed land from the Walvis Bay channel supported by complementary initiatives on logistics and capacity building.

However, in July 2009, the Permanent Secretary in the Ministry of Finance of Namibia, Calle Schlettwein, reported that Namibia would not be making use of the China Eximbank PBC offer.

The African Development Bank provided a $300 million loan for the project and China Harbor Engineering Co (CHEC) was the contractor responsible for implementation. This project was successfully completed and handed over to the authorities on August 2, 2019.

📋 Staff Comments

During the same official visit to Namibia, President Hu Jintao made a number of other financial pledges (see Umbrella Project ID#62351).

📚 Sources & References

China Boosts Country Projects
Chinese Ambassador Ends Fruitful Term
Introduction to China-Namibia Relations
China Clarifies Its Namibian Interests
Many heads of state praised! How many Chinese diplomatic projects in the official video of the China-Africa Cooperation Forum
Namibia: Walvis Bay Port expansion well under way
Vice Minister Qian Keming led the Chinese government's economic and trade delegation to visit the CGN Nuclear Mine Namibia uranium mine and the construction of the Whale Bay Port Container Terminal and Oil Terminal Project in China Harbour.
Chinese-built Walvis Bay container terminal in Namibia inaugurated
Namibia: GRN Suspends China Loans
Namibian
Chinese trade enjoys rapid growth
Namibia - New Port of Walvis Bay Container Terminal Project, http://global.factiva.com/aa/?ref=AFNWS00020071005e3a5000h3&pp=1&fcpil=en&napc=S&sa_from=
Interpretation of China-Namibia Relations
Walvis Bay Harbor New Container Terminal held a grand opening ceremony
CHINA–AFRICA ECONOMIC RELATIONS: THE CASE OF NAMIBIA Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.