Active Development AidData Chinese Aid

China Eximbank provides RMB 577 million government concessional loan for Consultancy Services for Extension of Southern Expressway Project (Linked to Record ID#38337, #53526, #33488 and #53522)

¥577K RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Sri Lanka
Country	Sri Lanka
Start Date	Jan 22, 2017
End Date	Jul 12, 2026
Duration	3,458 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`53529`

Grant Description

China Eximbank provides RMB 577 million government concessional loan for Consultancy Services for Extension of Southern Expressway Project On January 22, 2017, China Eximbank and the Government of Sri Lanka signed an RMB 577,000,000 government concessional loan (GCL) agreement [CHINA EXIMBANK GCL NO (2015) Total No (566)] for consultancy services related to design review and construction supervision of civil works on the Extension of Southern Expressway Project (ESEP).

The GCL will cover the full cost of the project.

📋 Loan / Grant Terms

📅 Maturity20 years

⏳ Grace Period6 years

💹 Interest Rate2%

China Eximbank disbursed RMB 83,293,431 in 2018, RMB 94,710,818 in 2019, RMB 170,176,661 in 2020, and RMB 14,013,487 in 2021. The loan had achieved a 62.7% disbursement rate (RMB 362,194,397 out of RMB 577,000,000) as of December 31, 2021. The borrower made no repayments from 2017 to 2021.

The loan's amount outstanding was RMB 83,293,431 as of December 31, 2018, RMB 178,004,249 as of December 31, 2019, RMB 348,180,910 as of December 31, 2020, and RMB 362,194,397 as of December 31, 2021, and RMB 362,194,397 as of June 30, 2022.

The objective of ESEP is to enhance the efficiency of the transport system by linking the country's major economic centers with Colombo City and other parts of the country.

The proceeds from the GCL are being used to fund the provision of consultancy services related design review and construction supervision of civil work of the Southern Expressway from Matara to Hambantota. China Railway First Survey and Design Institute Group Co. Ltd. (FSDI) is the contractor responsible for project implementation.

This project entered implementation on January 22, 2017. As of March 31, 2018, the consultancy work for all four sections of ESEP was on schedule. The expected project completion date is 2022.

📋 Staff Comments

For information on the four sections of ESEP (for which the consultancy services captured in Project ID#53529 will be provided), see Project ID#38337 (Section 1), Project ID#53526 (Section 2), Project ID#33488 (Section 3), and Project ID#53522 (Section 4).
The Government of Sri Lanka loan key number is 2017042.

📚 Sources & References

Progress of development projects and programmes being implemented in 2017 ( as at 31st December 2017)
DEVELOPMENT PERFORMANCE YEAR END REVIEW 2015
Extended highway in Southern Sri Lanka brings roads, hearts closer
Southern Expressway extension to be ready by 2019
US$90mn Exim Bank loan for Sri Lanka expressway extension consultancy
Financial Assistance from the Asian Development Bank (ADB) for the additional financing of the Small and Medium-Sized Enterprises Line of Credit Project
Progress of development projects and programmes as at 31st March 2018
对外投资合作国别（地区）指南 —— 斯里兰卡2018年版
斯里兰卡南部高速公路延长线项目 Extension of Southern Expressway in Sri Lanka (p.51)
Consultancy Services for Design Review & Construction Supervision of Southern Expressway Project
中铁一院斯里兰卡南部高速公路延长线咨询监理项目第三、第四标段开通运营（图）
Sri Lanka seeks Chinese loan for South expressway consultancy
人民铁道报：为斯里兰卡高速公路项目提供“中国咨询“
Local engineers in Southern Expressway Project to withdraw
DECISIONS TAKEN BY THE CABINET OF MINISTERS AT ITS MEETING HELD ON 20-12-2016
Resource Mobilization
Three Concessional Loans of USD 492 mn from the EXIM bank of China for Infrastructure Development of Sri Lanka
Performance Report 2017
CS-DRMS Report 814
The Export-Import Bank of China
Disbursements in 2014 January to December.pdf, 814 Disbursements Jan to Dec 2015
Disbursement from January to December 2016.pdf, 814-1 Annual 2017 for WEB New.pdf
Transactions For the period from to 2019/01/01 2019/12/31, 814 up to Oct 2018.PDF
Transactions For the period from to 2020/01/01 2020/12/31
Transactions For the period from to 2021/01/01 2021/11/30
Actual Disbursement by Transaction Date
FINANCIAL STATEMENTS OF THE GOVERNMENT FOR THE YEAR ENDED 31ST DECEMBER 2018
FINANCIAL STATEMENTS OF THE GOVERNMENT FOR THE YEAR ENDED 31ST DECEMBER 2019
Instrument-wise Details of Central Government External Debt obtained under Foreign Law as at 2022/06/30, 2015 Annual Report Ministry of Finance Sri Lanka
FINANCIAL STATEMENTS OF THE GOVERNMENT FOR THE YEAR ENDED 31 ST DECEMBER 2020 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 Sri Lanka

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