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China Eximbank provides $300 million preferential buyer’s credit for the Major Infrastructure Development Programme (MIDP)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Jamaica |
| Country | Jamaica |
| Start Date | Aug 21, 2013 |
| End Date | Mar 24, 2027 |
| Duration | 4,963 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 39759 |
Grant Description
China Eximbank provides $300 million preferential buyer’s credit for the Major Infrastructure Development Programme (MIDP) On August 21, 2013, China Eximbank signed a $300,000,000 preferential buyer’s credit (PBC) loan agreement [PBC No. (2013) 33 Total No. 227] with the Government of Jamaica for the Major Infrastructure Development Programme (MIDP).
The first scheduled date of loan repayment was January 21, 2018 and the final date of scheduled loan repayment was January 21, 2028. As of December 31, 2018, the loan had achieved an 82% disbursement rate ($246,180,293.80 out of $300,000,000). As of October 30, 2021, the loan had achieved a 95.5% disbursement rate ($286,741,202.39 out of $300,000,000).
Its outstanding amount was $218,469,492.39 as of October 30, 2021. The MIDP is designed to improve some 431 km of road along the network together with 27 bridges.
The MIDP is a $352.9 million undertaking, with $300 million financed through a preferential buyer’s credit from China Eximbank and $52.9 million from the Jamaican Government.
MIDP is a follow-up of the Jamaica Development Infrastructure Programme (JDIP), which was also funded by China Eximbank and implemented by CHEC.
The JDIP is divided into three major parts: (1) Major Works (implemented by China Harbour Construction): $220,000,000; (2) Jamaica Emergency Employment Programme (JEEP): $50,000,000; and (3) Other Works (include rehabilitation, intersection improvement, periodic maintenance, river training: $82,941,765).
The MIDP supported seven sub-projects: (1) the construction of Kupius Bridge in Pennants, Clarendon; (2) the upgrading of the road from Ferris Cross to Mackfield; (3) the upgrading of Marcus Garvey Drive from East Avenue to Pechon Street; (4) the extension of Mandela Highway; (5) the widening of Constant Spring Road between West Kings House Road and Manor Park; (6) the upgrading of Barbican Road between Russell Heights Intersection and Jacks Hill Gas Station; and (7) the widening of 3.6 km of Hagley Park Road between Three Miles and Maxfield Avenue.
China Harbour Engineering Company Limited (CHEC) was the contractor responsible for project implementation. The MIDP was completed on September 2, 2019. It was originally scheduled to reach completion by the end of March 2019.
Staff Comments
- According to internal records that Jamaica’s Ministry of Finance and the Public Service supplied to AidData in May 2020, the loan agreement was signed on August 20, 2013. Therefore, AidData has set the commitment_year field to 2013.
- The face value and borrowing terms of the loan are also based on internal records that Jamaica’s Ministry of Finance and the Public Service supplied to AidData in May 2020.
- The Chinese project title is 牙买加主要基础设施发展项目.
- The Hagley Park Road Improvement project subcomponent involved widening of 3.6 kilometers of roadway from Three Miles to Maxfield Avenue; constructing a double overpass; installing a number of traffic signals and street lights; undertaking drainage improvement; and setting back perimeter fences and boundary walls. The Constant Spring Road Improvement project subcomponent involved the widening of the road from two to four lanes for traffic improvement.
Sources & References
- 4 accords with China.(JAMAICA)(Brief article)
- Jamaica to launch major infrastructure scheme this year
- Jamaica
- China sign four agreements, $4 Billion Budgeted for Infrastructure Development
- Jamaica
- China sign four agreements
- Statement on the major infrastructure development programme/Jamaica Emergency Employment programme
- JDIP Replacement Gets A Name
- Prime Minister’s Statement on the Official Trip to China
- Jamaica-China agreement to provide jobs, 2016-2017 Jamaica Budget
- Prime Minister’s Statement on the Official Trip to China
- Five new bridges to be built this fiscal year
- Contract Signed for Highway Improvement Project
- China Exim Bank
- China Harbour & Jamaica partner for development
- PM Says New Infrastructure Development Programme Coming
- CONTRACTS SIGNED FOR MAJOR INFRASTRUCTURE PROJECTS
- China’s Role In Jamaica: No Strings Attached
- Correspondence between AidData Executive Director and Jamaica MOF representative
- Major Infrastructure Development Programme
- NWA – Mandela Highway Phase II Upgrade – Jamaica Project Profile
- Annual Report 2013
- Project Matrix
- Correspondence between AidData and Jamaican Ministry of Finance and Public Service
- 中港承建的牙主要基础设施发展项目将全面展开
- China Communications Construction
- Work Progressing Steadily on Constant Spring/Hagley Park Road Projects
- CHEC ‘checking’ things straight
- National Works Agency Roadster Magazine
- 中国港湾承建的牙买加主要基础设施发展项目建成通车
- Status of Loans from China, 12/31/2018
- Status of Loans from China, 10/31/2021
- INDEX TO FINANCIAL STATEMENTS AND REVENUE ESTIMATES, 03/31/2017
- Flow manager blames lack of funds for failure to relocate infrastructure during MDIP
- CHEC suggests FLOW used MIDP to change old infrastructure
- MAJOR INFRASTRUCTURE DEVELOPMENT PROGRAMME 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 Jamaica
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