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China Eximbank pledges loan for Section V of East-West Road Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Nigeria |
| Country | Nigeria |
| Start Date | Jan 01, 2013 |
| End Date | Jul 04, 2033 |
| Duration | 7,489 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 31100 |
Grant Description
China Eximbank pledges loan for Section V of East-West Road Project In July 2013, the Government of Nigeria sought to secure a $500 million loan from China Eximbank for Section V of East-West Road Project. This project involves an extension of the East-West Road from Oron in Akwa Ibom State to Calabar in Cross River State.
China Civil Engineering Construction has been awarded the commercial contract for this project.
On June 7, 2017, it was reported that the Government of Nigeria was seeking a $774 million loan from China Eximbank for the project.
Then, in February 2020, the Government of Nigeria announced that it was seeking an $800 million China Eximbank loan for the project.
Sources & References
- FG
- Chinese Firms Sign N300 Billion Agreement for Extension of Makurdi-Enugu
- Other Roads
- Nigeria: FG
- Chinese Firms in N460 Billion Road Project Deal
- Nigeria: East-West Road - Govt Extends Road By 23 Kilometres
- Chinese contractor wins major Nigerian road project
- Nigeria: FG Awards N300 Billion Road Contract to Chinese Firm
- FG shifts East-West road completion to 2015
- East-West road gulped N726bn under Jonathan
- Minister Inaugurates More Members of NDDC Board
- FG increases loan application from China to $774 million
- FG to get N245.6bn China loan for section V of East-West road
- Construction Of Section V Of The East-West Road To Commence Before December 2021-Akpabio 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.
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Government of Nigeria
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