Completed Mixed AidData Chinese Aid

CAMC provides $24.9 million supplier credit for General Santos Fish Port Complex (GSFPC) Expansion and Improvement Project (Record ID#34701)

$24.99M USD

Funder	China National Construction & Agricultural Machinery Import & Export Corporation (CAMC)
Recipient Organization	Government of the Philippines
Country	Philippines
Start Date	Jan 01, 2003
End Date	Jan 18, 2033
Duration	10,975 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`34576`

Grant Description

CAMC provides $24.9 million supplier credit for General Santos Fish Port Complex (GSFPC) Expansion and Improvement Project (Record ID#34701) On January 6, 2003, China National Construction & Agricultural Machinery Import & Export Corporation (CAMC) and the Government of the Philippines signed a $24.985 million supplier credit agreement for General Santos Fish Port Complex (GSFPC) Expansion and Improvement Project.

📋 Loan / Grant Terms

📅 Maturity12 years

⏳ Grace Period2 years

💹 Interest Rate3%

The loan went into effect on March 15, 2003 and its final maturity date was March 31, 2015. As of 2010, $3.12 million of the loan had been repaid, and the outstanding balance of the loan was $14.06 million.

The loan proceeds were to be used by the borrower to partially finance a $26.17 million commercial contract (No. 1142003-00418) with CAMCE, which was also signed on January 6, 2003. The purpose of the project was to expand and upgrade a fishing port in General Santos City.

It involved the construction of two new deep-water terminals (one measuring 320 meters in length and another measuring 200 meters in length), a breakwater, a 3,000 metric ton capacity cold storage facility (at -40 to -45 degrees Celsius), an additional waste water treatment plant, a power sub-station, an overhead water tank, and a helipad.

It also involved the provision of port handling machinery and equipment.

Upon completion, it was expected that the project would spur maximum capacity utilization of existing canneries in the area, improve quality handling of frozen fish products, increase employment opportunities, and accommodate the additional volume of wastewater that would be generated from the expected industries inside the complex.

CAMC was the contractor responsible for implementation. Its work was overseen by the Department of Agriculture of the Philippines. The project commenced on or around August 17, 2003. By March 2006, the project had achieved a 73.69T% completion rate. The project was ultimately completed in July 2007.

📋 Staff Comments

The Government of Philippines loan identification number for the supplier credit (loan) that supported the General Santos Fish Port Complex (GSFPC) Expansion and Improvement Project is CHI-2. Its loan identification number in the Debt Management and Financial Analysis System (DMFAS) is 29496000.
On an unknown date, the January 6, 2003 commercial contract (No. 1142003-00418) was revised and its value was increased to $27,602,107.92.
This project was a continuation of an earlier project financed by the Japanese Overseas Economic Cooperation Fund, which consisted of providing post-harvest facilities in Barangay Tamblar, along the shores of Sarangani Bay 32 kilometers south of the city proper. The port’s harbor and landing facilities were opened to the public in July 1998 and became fully operational in February 1999.
Engr. Rodrigo Bulaon oversaw the implementation of the project.
This loan was approved under a previously negotiated $100 million line of credit for local farm projects and hybrid rice growth (captured via Record ID#34701).
The project is also known as the General Santos City Fish Port Expansion Project, the General Santos Fish Port Project, and the General Santos Fish Port Complex (GSFPC) Expansion/Improvement Project. The Chinese project title is 菲律宾桑托斯将军城渔港扩建工程 or 菲律宾综合渔港扩建工程 or 菲律宾桑托斯将军城渔码头扩建项目.

📚 Sources & References

PRESIDENT GLORIA MACAPAGAL ARROYO MEETS CHINA'S PARLIAMENTARY CHIEF LI PENG IN MANILA.
Philippines,China To Sign $100M Loan For Fisheries Sector
P1.2-B fish port loan.
Philippines-China Relations, 2001–2008: Dovetailing National Interests, 2009 Consolidated audit report on Official Development Assistance projects, 2010 Consolidated audit report on Official Development Assistance projects
China's ODA to the Philippines: A briefing paper
New openings and old problems: China and development failure in the Philippines
The PRC-Philippines’ dodgy deal
Solon wants House to probe ODA-funded projects
菲律宾投资经营环境及前景
CY 2003 ODA PORTFOLIO REVIEW Table 1 New ODA Loans
By Funding Source
CY 2008 ODA Portfolio Review Annex 1-B List of Active Programs
Projects CY 2008
FOREIGN ASSISTED PROJECTS BY DONOR / CREDITOR
FY 2009 - 2011
GENERAL SANTOS FISH PORT COMPLEX
CY 2009 ODA Portfolio Review Annex 1-B List of Active Programs and Projects
CY 2007 ODA Portfolio Review Annex 1-B List of Active Projects Reviewed
OUTSTANDING FOREIGN DEBT FROM REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
AS OF YEAR-END, 2014-2016
Consolidated Audit Report on Official Development Assistance Projects
OUTSTANDING EXTERNAL DEBT FROM REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
AS OF YEAR-END, 2013-2015, 2008 ODA Portfolio Review, 2004 and above
中工国际工程股份有限公司
General Santos City Fishing Wharf Expansion Project in the Philippines
General Santos City Fish Port Complex
General Santos City Fish Port Complex, https://www.coa.gov.ph/phocadownloadpap/userupload/annual_audit_report/ODAproject/2009_ODA_Report.pdf
China funds GenSan fishing port complex
Fishing Ports Development Project (II)
Government gets $25-M loan for rehab of GenSan fishport
GenSan fish port up for modernization
SOCSKSARGEN ADPO AR 2008
CHINA’S ECONOMIC DEVELOPMENT ASSISTANCE TO THE PHILIPPINES: A Preliminary Assessment*
General Santos
Philippines fishing quay expansion project
FOREIGN DEBT SERVICE OF REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
BY CREDITOR, 2007-2009
OUTSTANDING FOREIGN DEBT FROM REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
AS OF YEAR END 2007-2009
FOREIGN DEBT SERVICE FOR REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
BY CREDITOR, 2008-2010
OUTSTANDING FOREIGN DEBT FROM REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
AS OF YEAR END 2009-2011
FOREIGN DEBT SERVICE FOR REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
BY CREDITOR, 2010-2012
OUTSTANDING FOREIGN DEBT FROM REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
AS OF YEAR END 2008-2010
FOREIGN DEBT SERVICE FOR REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
BY CREDITOR, 2016-2018
FOREIGN DEBT SERVICE FOR REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
BY CREDITOR, 2009-2011
OUTSTANDING FOREIGN DEBT FROM REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
AS OF YEAR-END, 2016-2018
OUTSTANDING EXTERNAL DEBT FROM REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
AS OF YEAR-END, 2018-2020
OUTSTANDING FOREIGN DEBT FROM REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
AS OF YEAR END, 2010-2012
EXTERNAL DEBT SERVICE FOR REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
BY CREDITOR, 2018-2020
FOREIGN DEBT SERVICE FOR REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
BY CREDITOR, 2017-2019
REVENUE PROGRAM
BY SOURCE, 2013 - 2017
EXTERNAL DEBT SERVICE FOR REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
BY CREDITOR, 2020-2022
NATIONAL GOVERNMENT FINANCING, 2014-2016
FOREIGN DEBT SERVICE FOR REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
BY CREDITOR, 2014-2016
OUTSTANDING EXTERNAL DEBT FROM REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
AS OF YEAR-END, 2019-2021
OUTSTANDING EXTERNAL DEBT FROM REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
AS OF YEAR-END, 2023-2025
FOREIGN DEBT SERVICE FOR REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
BY CREDITOR, 2022-2024
OUTSTANDING FOREIGN DEBT FROM REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
AS OF YEAR-END, 2017-2019 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 the Philippines

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