Active Development AidData Chinese Aid

China Eximbank provides $153.6 million loan for Libreville Airport Bypass Road Construction Project

$153.63M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Gabon
Country	Gabon
Start Date	Dec 14, 2009
End Date	Mar 22, 2028
Duration	6,673 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`52233`

Grant Description

China Eximbank provides $153.6 million loan for Libreville Airport Bypass Road Construction Project In 2016, China Eximbank and the Government of Gabon signed a $153,634,351 loan agreement for the Libreville Airport Bypass Road Construction Project.

📋 Loan / Grant Terms

💰 Loan Amountcarries a 20 year maturity and 5 year grace period

📅 Maturity20 years

⏳ Grace Period5 years

The project involves the construction of an 11 km bypass road (perimeter highway) around the capital city of Libreville. The road will connect the new and old downtown areas of the city. It will also lead to the Libreville airport. China Road and Bridge Corporation (CRBC) is the contractor responsible for implementation.

This project has faced a number of implementation delays. Some sources suggest that the Government of Gabon may re-launch without CRBC as the contractor.

However, there is not yet any clear evidence that the China Eximbank loan for this project has been suspended or cancelled.

There are some indications that the China Eximbank loan for the Libreville Airport Bypass Road Construction Project may have financially underperformed vis-a-vis the original expectations of the lender.

On April 3, 2024, Gabon’s Ambassador to China transmitted a letter (reference number: 000115/AMBAGAB-RPC/24) to the transitional authorities in Gabon, urging them to consider a debt settlement mechanism whereby the Government of Gabon would repay its outstanding debts to China Eximbank by depositing the cash proceeds from the sale of 1 or 2 oil cargoes (worth $150 million per cargo) each year to UNIPEC in a China Eximbank-controlled escrow account.

📋 Staff Comments

1. This project is also known as the 11 km Libreville Perimeter Highway Project. The Chinese project title is 利伯维尔环城路项目 or 了加蓬首都利伯维尔环城路建设项目一期进 or 首都环城路一期项目. The French project title is Projet de Conception et Construction de la voie de contournement de l'aéroport de Libreville.”

📚 Sources & References

Gabon's infrastructure plans get major boost
Séance Plénière du 31 Mars 2016 (1).pdf
China's support to the Gabonese transport infrastructure
Partenaires et accords » Accords » Accords de Prêts » Prêts 2016
驻加蓬大使胡长春视察利伯维尔环城路项目
Voie de contournement de l’ADL : un vieux serpent de mer
Prêts 2016
Investissements : Le soutien de la Chine aux infrastructures de transport gabonaises
Voie de contournement de l’ADL: un nouvel appel d’offre en odeur de roublardise
Request for a Three-Year Extended Arrangement under the Extended Fund Facility-Press Release; Staff Report; Supplementary Information, and Statement by the Executive Director for Gabon
IMF POLICY PAPER REVIEWS OF THE FUND’S SOVEREIGN ARREARS POLICIES AND PERIMETER
FIRST AND SECOND REVIEWS OF THE EXTENDED ARRANGEMENT UNDER THE EXTENDED FUND FACILITY
REQUESTS FOR WAIVERS FOR NONOBSERVANCE OF PERFORMANCE CRITERIA
ESTABLISHMENT OF PERFORMANCE CRITERIA
AND FINANCING ASSURANCES REVIEW—PRESS RELEASE; STAFF REPORT; STAFF SUPPLEMENT; AND STATEMENT BY THE EXECUTIVE DIRECTOR
Gabon : la Chine pour un apurement de la dette contre deux cargos de pétrole par an !
Gabon: Inauguration of the Libreville airport bypass
Resettlement Action Plan (RAP) inventories of the Libreville airport bypass road for GSEZ Airport – Gabon
Intervention of TEREA Gabon during the public consultations on the bypass project of the international airport of Libreville 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 Gabon

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