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China Eximbank provides RMB 280 million government concessional loan for Phase 2 of V.C Bird International Airport Terminal Project (Linked to Record ID#39633, #64610, #71173)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Antigua and Barbuda |
| Country | Antigua and Barbuda |
| Start Date | Mar 20, 2013 |
| End Date | Nov 11, 2026 |
| Duration | 4,984 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 54573 |
Grant Description
China Eximbank provides RMB 280 million government concessional loan for Phase 2 of V.C Bird International Airport Terminal Project On February 2, 2011, the Chinese Government and the Government of Antigua and Barbuda signed an Economic and Technical Cooperation Agreement (ECTA), which committed an RMB 90 million interest-free loan for Phase 1 of V.C Bird International Airport Terminal Project (captured via Record ID#64610).
On September 13, 2011, the Export-Import Bank of China (China Eximbank) signed an RMB 210 million government concessional loan (GCL) agreement with the Government of Antigua and Barbuda for Phase 1 of the V.C Bird International Airport Terminal Project (captured via Record ID#39633).
In 2012, the Chinese Government reportedly provided a grant worth XCD 24 million to the Government of Antigua and Barbuda for the construction of the terminal building (captured via Record ID#71173).
On March 20, 2013, China Eximbank and the Government of Antigua and Barbuda signed an RMB 280 million government concessional loan (GCL) for Phase 2 of the V.C Bird International Airport Terminal Project (captured via Record ID#54537).
The grace period is unknown. China Civil Engineering Construction Corporation was the contractor responsible for both phases of implementation. A groundbreaking ceremony occurred on November 2, 2011, and the terminal was ultimately completed on November 5, 2015.
With 23,000 sq. meters of operating space, the terminal has 46 Common Use Terminal Use Equipment counters, 15 self-check kiosks, four loading bridges, state-of-the-art hold baggage screening equipment, and a conveyor system, as well as a plethora of retail spaces. The terminal is designed to handle 1,500,000 person-time annual passenger throughput.
Staff Comments
- According to a November 2015 article from OECS Business Focus, the Chinese Government offered an RMB 90 million interest-free loan for this project, so that is the transaction amount (face value of the loan) that AidData has identified.
- It is not entirely clear if November 5, 2015 refers to the Phase 1 completion date, the Phase 2 completion date, or the completion date for both phases. This issue requires further investigation.
- According to a 2014 Debt Audit Report published by the Government of Antigua and Barbusda, the RMB 210 million GCL agreement with China Eximbank was signed on April 15, 2011. However, the 2012 IMF Staff Report for Antigua and Barbuda reports that a preferential loan framework agreement for this project was signed on December 31, 2010, and the loan agreement was signed on September 13, 2011.
- Letters of exchange were signed by the Chinese Government and the Government of Antigua and Barbuda on August 31, 2011 (See: 中安巴政府签署中国援安巴新建机场航站楼项目等换文). However, it is unclear if this financial commitment refers to the interest-free loan or the grant. This issue merits further investigation.
- Another ETCA was signed on December 13, 2011, which reportedly committed an additional interest-free loan to construct the terminal building (See: 中、安巴两国政府签署经济技术合作协定). However, the face value and borrowing terms of the loan are unknown. This issue merits further investigation.
- The China Eximbank loan for Phase 1 is captured in China-Latin America Finance Database, which is co-produced by the Inter-American Dialogue and Boston University’s Global Development Policy Center. The China Eximbank loan for Phase 2 is not.
Sources & References
- The Redevelopment Project
- Destination the Idyllic Isles
- New VC Bird Airport Terminal Unveiled
- 中国进出口银行朱鸿杰副行长一行访问安巴
- V.C Bird Airport
- Government Concessional Loan and Preferential Buyer's Credit Brochure
- AIRPORT OFFICIALS CELEBRATE OPENING OF NEW TERMINAL
- 安巴总理斯潘塞和我驻安巴大使刘汉明共同视察安巴机场航站楼项目
- 驻安提瓜和巴布达大使任共平陪同斯潘塞总理视察机场新航站楼项目工地
- 驻安提瓜和巴布达大使王宪民考察慰问在安中资企业项目组
- 驻安提瓜和巴布达大使任共平春节前夕慰问中资企业员工
- 驻安提瓜和巴布达大使任共平视察我在安巴合作项目
- 驻安提瓜和巴布达大使刘汉明看望慰问中资企业员工
- 驻安提瓜和巴布达大使刘汉明考察中土公司承建安巴机场航站楼项目
- 驻安提瓜和巴布达大使任共平视察我援安巴项目
- Antigua & Barbuda's 2016 Budget Statement, 2018 Antigua & Barbuda Recurrent and Development Estimates
- China-Latin America Finance Database
- Antigua & Barbuda Recurrent and Development Estimates
- Antigua and Barbuda Estimates 2023
- Antigua and Barbuda Estimates 2024
- New Gateway to Antigua and Barbuda
- Pioneering the Sustainable Caribbean Airport 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 Antigua and Barbuda
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