Completed Development AidData Chinese Aid

China Eximbank provides $7.99 million loan for Gaborone Housing Project (293 Units)

$7.99M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Botswana
Country	Botswana
Start Date	Apr 01, 2006
End Date	Dec 05, 2030
Duration	9,014 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`31`

Grant Description

China Eximbank provides $7.99 million loan for Gaborone Housing Project (293 Units) In April 2006, China Eximbank and the Government of Botswana signed a $7.99 million loan agreement for the Gaborone Housing Project (293 Units).

📋 Loan / Grant Terms

💰 Loan Amountreportedly carried the following borrowing terms: a 16 year maturity and 3% interest rate

📅 Maturity16 years

💹 Interest Rate3%

Its final maturity date is March 21, 2022.

The Government of Botswana used the proceeds from the loan to on-lend to the Botswana Housing Corporation (BHC) at a significantly higher interest rate (approximately 8.4%).

The BHC, in turn, used the proceeds from its subsidiary loan agreement with the Government of Botswana to construct 293 housing units in the city of Gaborone within District 7 (or Block 7).

Complant Botswana (Pty) Ltd., a subsidiary of China National Overseas Engineering Corporation, was the contractor responsible for implementation. Construction began on January 26, 2006 and the project was completed in July 2008.

📋 Staff Comments

This project is also known as the BHC-Gaborone Block 7 (293 Houses) Project or Gaborone 293 Houses in District 7 Project. The Chinese project title is 位于哈博罗内的293套住宅项目 or 293套住房项目 or 低造价住房项目 or 293套低造价住房项目.
There is disagreement across sources with respect to the final maturity date of the loan. Botswana’s Ministry of Finance records a final maturity date of March 21, 2022. BHC records a final maturity date of 2019 (for the subsidiary loan agreement that it signed with the Government of Botswana. AidData relies on the maturity that is recorded by Botswana’s Ministry of Finance.

📚 Sources & References

http://www.cablegatesearch.net/cable.php?id=06GABORONE933
MPs Divided Over Chinese Loan, http://www.eximbank.gov.cn/topic/hwtz/2006/5_06.doc
李智参赞考察中海外在博已完工项目
郑竹强大使考察中海外已完工住宅项目
Cablegate: Botswana Houses Provided Through Chinese Loans
Botswana: Opposition Unhappy With Chinese Loan Terms
Chairman and President of Export-Import Bank of China Visited Botswana
进出口银行代表团访博
ANNUAL STATEMENTS OF ACCOUNTS (ASA) FOR THEFINANCIAL YEAR ENDED 31 MARCH 2018
Presentation to the African Union for Housing Finance (AUHF) Conference
赵彦博大使考察中海外293套住宅项目
Botswana: Chinese Projects Create Over 2000 Jobs
BHC Annual Report 2013-14a
Botswana foreign debt at P25.2 billion
BWEEK THAT WAS IN PARLIAMENT - QUESTION ON THE AMOUNT OF MONEY OWED TO OTHER COUNTRIES
DAILY HANSARD 19 JUNE 2018 - WINTER (MIXED VERSION 2), http://global.factiva.com/aa/?ref=AFNWS00020060717e27e000eg&pp=1&fcpil=en&napc=S&sa_from=
吴官正在博茨瓦纳视察我援建住房项目
进出口银行将派员访博
BHC 2021 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.

All Grantees

Government of Botswana

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