Completed Mixed AidData Chinese Aid

China Eximbank provides $150 million preferential buyer's credit for Juba International Airport Reconstruction and Extension Phase 1 Project

$150M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of South Sudan
Country	South Sudan
Start Date	Apr 14, 2013
End Date	Mar 03, 2028
Duration	5,437 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`31200`

Grant Description

China Eximbank provides $150 million preferential buyer's credit for Juba International Airport Reconstruction and Extension Phase 1 Project On April 14, 2013, China Eximbank and the Government of South Sudan signed a preferential buyer’s credit (PBC) agreement worth $150 million for the Juba International Airport Reconstruction and Extension Phase 1 Project.

The PBC went into effect on January 21, 2014.

The PBC (loan) carries the following borrowing terms: an interest rate of 2%, a grace period of 5-years, and a maturity of 19.5-years, a 0.25% commitment fee, and a 0.25% management fee.

The borrower was reportedly authorized to use 100% of the loan proceeds to finance a commercial contract with China Harbour Engineering Company (CHEC).

The loan’s first scheduled repayment date is January 21, 2019 (5-years after the loan’s effective date) and its final maturity (repayment) date is July 21, 2033. It is scheduled for semi-annual repayments on January 21 and July 21 of each year. The borrower expected to make annual principal and interest payments worth approximately $17,155,063.53.

As of December 31, 2015, the loan had achieved a 66.6% disbursement rate ($100 million out of $150 million). By December 2022, the loan had achieved a 100% disbursement rate.

As of June 2022, total repayments from the borrower to the lender amounted to $22,991,342.60 ($2,991,374.93 in repaid interest and $19,999,967.67 in repaid principal).

The loan’s amount outstanding was $100 million in December 2015, $127,008,657 in June 2022, and $167,894,000 as of December 2022.

Phase 1 involved extending the Juba International Airport’s runway from 2,400 meters to 3,100 meters, the construction of duty-free shops and more parking lots, and the expansion of immigration offices. CHEC was the contractor responsible for project implementation. The project began on July 7, 2014 and was expected to reach completion within 30 months (January 7, 2017).

It was ultimately completed and put into use on March 17, 2017.

📋 Staff Comments

The Chinese project title is 南苏丹朱巴国际机场项目 or 中国港湾工程有限责任公司朱巴国际机场改扩建项目.
Some sources (e.g. https://www.cabri-sbo.org/uploads/bia/south_sudan_2014_approval_external_budget_speech_ministry_of_finance_igad_english_.pdf) suggest that the China Eximbank loan was restructured as a $150 million buyer’s credit loan (BCL) — secured (collateralized) against oil sales — with an interest rate of LIBOR plus 350 basis points and a 15-year maturity. However, for the time being, AidData relies upon the borrowing terms recorded by South Sudan’s Ministry of Finance (via https://secureservercdn.net/160.153.138.42/330.9b9.myftpupload.com/wp-content/uploads/2022/06/Exteral-Debt-.pdf?time=1665759386). This issue warrants further investigation.
The December 2022 amount outstanding data are drawn from https://mofp.gov.ss/doc/South-Sudan-External-Stock-Debt-Draft-report.pdf and https://www.dropbox.com/s/n1dlxcgujgyst2l/South-Sudan-External-Stock-Debt-Draft-report.pdf?dl=0

📚 Sources & References

China earmarks $150m grant for Juba airport
S. Sudan Kiir’s accuses ex-officials of mismanaging airport funds
South Sudan President Launches Juba Airport Renovation Project
China approves major loans for S. Sudan to improve infrastructure
South Sudan Infrastructure
EPC contract for Phase 1 of Juba International Airport in South Sudan is won by China Harbour Engineering Co.
Ltd
CHEC Signed EPC Contract of Phase I Project of Juba International Airport of South Sudan, http://search.proquest.com.gate2.library.lse.ac.uk/docview/1040828075/13EA97450903AE88D40/24?accountid=9630
S.Sudan says China to help build new airport in Juba
South Sudan: China plans to build new airport in Juba
China finance and complete the country’s Juba International Airport
Draft National Budget Plan, 2015/16 Full Year Macro-Fiscal Report
IMF Report
GOVERNMENT OF THE REPUBLIC OF SOUTH SUDAN 2015/2016 Budget Speech
China's Business and Politics in South Sudan
驻南苏丹大使李志国出席朱巴国际机场项目优惠买方信贷签约仪式
张翼参赞陪同何向东大使视察朱巴国际机场改扩建项目
张翼参赞陪同马强大使视察朱巴国际机场升级改造项目
南苏丹总统基尔出席朱巴机场改扩建项目开工仪式
CHEC Signed EPC Contract of Phase I Project of Juba International Airport of South Sudan
Juba International Airport Project Phase I
South Sudan
The Construction of Juba International Airport Project in South Sudan Resumed
The Whole Handing-over of Juba International Airport Project in South Sudan was Completed
驻南苏丹大使李志国出席朱巴国际机场项目优惠买方信贷签约仪式
马强大使赴朱巴国际机场改扩建项目视察慰问
张翼参赞陪同马强大使视察朱巴机场改扩建项目
People from the 'China Harbor' building an airport for South Sudan
South Sudan’s Juba International Airport project completes handover
Speech of South Sudan Government Representative at the National Day of Chinese Celebration of its 70th Anniversary
Reconstruction and expansion project of Juba International Airport
South Sudan
Sincerity of friends tested by misfortune
PBC Loan Agreement Supporting the Juba International Airport Project
PBC for Juba International Airport Reconstruction and Extension
Juba International Airport
Critiquing Key Novelties and Weaknesses: A Review of South Sudan FY2014/15 Budget, 2014/15 Budget Speech
FY: 2019/2020 Approved Budget Book, 2014/15 Third Quarter Macro-Fiscal Report
South Sudan : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of South Sudan
South Sudan : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Sudan
INTERNATIONAL DEVELOPMENT ASSOCIATION PROJECT APPRAISAL DOCUMENT ON A PROPOSED CREDIT IN THE AMOUNT OF SDR 52.2 MILLION (US$80 MILLION EQUIVALENT) IN THE AT OF US$75 MILLION TO THE REPUBLIC OF SOUTH SUDAN FOR A . SOUTH SUDAN – EASTERN AFRICA REGIONAL TRANSPORT
TRADE AND DEVELOPMENT FACILITATION PROJECT FIRST PHASE OF PROGRAM
Republic of South Sudan External Debt
Publications and Document Library
驻南苏丹大使李志国出席朱巴国际机场项目优惠买方信贷签约仪式
QUARTERLY MACROECONOMIC UPDATE
Draft Budget Book Fiscal Year 2020-21
South Sudan Quarterly Macro Update FY 15/16 Oct 2016
South Sudan External Stock Debt Report 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 South Sudan

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