Completed Development AidData Chinese Aid

China Eximbank provides $86.1 million concessional loan for National Heroes (or Lusaka National) Stadium Construction Project (Linked to Record ID#85186)

$86.1M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Zambia
Country	Zambia
Start Date	Jul 01, 2010
End Date	Dec 28, 2032
Duration	8,216 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`2339`

Grant Description

China Eximbank provides $86.1 million concessional loan for National Heroes (or Lusaka National) Stadium Construction Project In July 2010, China Eximbank and the Government of Zambia signed an $86.1 million concessional loan agreement for the National Heroes (or Lusaka National) Stadium Construction Project.

📋 Loan / Grant Terms

💰 Loan Amountreportedly carried a 10 year grace period and a 20 year maturity

📅 Maturity20 years

⏳ Grace Period10 years

Its interest rate is unknown.

The project involved the construction of the National Heroes Stadium and the reconstruction of the old Independence Stadium in Lusaka. National Heroes Stadium is a multi-purpose facility that can accommodate more than 50,009 spectators.

It has a football pitch, a running track, two gymnasiums, four dressing rooms, four VIP lounges, shops, booths, car parks, media rooms, conference rooms, meeting rooms, a police station, a medical room, an anti doping center, massage rooms, and offices. The Zambia Electricity Supply Corporation (ZESCO) supplied power to the site.

Shanghai Construction Group was the contractor responsible for project implementation. The contract 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.

📋 Staff Comments

This project is also known as the AKA Lusaka National Stadium Construction Project, the Lusaka National Stadium Construction Project, the Lusaka Stadium Project, and the National Stadium Project. The Chinese project title is 赞比亚卢萨卡体育场 or 卢萨卡体育场项目.
Another $8 million China Eximbank concessional loan was issued for the Independence Stadium Grandstand Rehabilitation Project (as captured via Project ID#85186).
According to the World Bank's Debtor Reporting System (DRS), the weighted average interest rate of all official sector lending from all Chinese creditors to government and government-guaranteed borrowing institutions in Zambia was 1.936% in 2010. AidData estimates the interest rate of the China Eximbank loan that supported the National Heroes Stadium Construction Project by using this figure. See https://www.dropbox.com/scl/fi/uyz6w7q31x2o8i6rna7ug/DRS-May-2024-Extraction-Official-Chinese-Loan-Commitments-to-Zambia.xlsx?rlkey=n0a6270w91pdmmfyaoqva419r&dl=0

📚 Sources & References

Lusaka Stadiums Works Kick Off June 28
Ambassador Zhou Yuxiao Toured the Project of Lusaka Stadium
Zambia
China keen to train stadium managers
Hui Liangyu Meets Zambian President and Attends Lusaka Stadium Opening Ceremony
Zambia lauds China for construction of ultra-modern stadium in Lusaka
Construction work on new Zambia stadium starts
Zambia complete construction of Heroes National Stadium
Chinese Debt
Aid and Trade: Opportunity or Threat for Zambia?
The Chinese loan conundrum: Who is benefitting from Zambia’s phantom growth in construction?
THE STATUS OF ZAMBIA’S DOMESTIC AND EXTERNAL DEBT
Chinese Amb. Toured the Project of Lusaka Stadium
Chinese-supported infrastructure projects change Zambia's landscape
李源潮察看上海建工集团承建的赞比亚体育场
Government Concessional Loan Preferential Buyer's Credit Brochure
National Heroes Stadium
驻赞比亚大使周欲晓视察卢萨卡体育场和奥青中心游泳馆项目
REPORT OF THE COMMITTEE ON GOVERNMENT ASSURANCES FOR THE THIRD SESSION OF THE ELEVENTH NATIONAL ASSEMBLY APPOINTED ON WEDNESDAY, 25 TH SEPTEMBER, 2013
Zambia's Hidden Debt Crisis: The Real Debt is USD$30 Billion Which is 157% of GDP
赞比亚副总统赞赏卢萨卡体育场质量
援赞恩多拉体育场举行启用仪式
Zambia complete construction of Heroes National Stadium
赞比亚总统班达和回良玉副总理共同出席卢萨卡体育场奠基仪式
驻赞比亚大使夫人吴继红邀请使节夫人和妇女界代表参观卢萨卡体育场在建项目
Mulongoti fumes over illegal housing structures near stadium
回良玉副总理出席卢萨卡体育场奠基仪式, http://global.factiva.com/aa/?ref=AFNWS00020110609e76900172&pp=1&fcpil=en&napc=S&sa_from=
REPUBLIC OF ZAMBIA REPORT OF THE COMMITTEE ON GOVERNMENT ASSURANCES FOR THE FOURTH SESSION OF THE ELEVENTH NATIONAL ASSEMBLY APPOINTED ON WEDNESDAY, 24TH SEPTEMBER, 2014
Ministerial Statement - Youth and Sport 17th July, 2013-2
Chinese Loans to Africa Database 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.