Active Development AidData Chinese Aid

[Suspended] China Eximbank provides RMB 70 million government concessional loan for Expansion and Upgrading of Water and Sewerage Infrastructure Project

¥70M RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Seychelles
Country	Seychelles
Start Date	Jan 01, 2007
End Date	May 04, 2031
Duration	8,889 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`55563`

Grant Description

[Suspended] China Eximbank provides RMB 70 million government concessional loan for Expansion and Upgrading of Water and Sewerage Infrastructure Project In 2007, China Eximbank and the Government of Seychelles signed an RMB 70 million government concessional loan (GCL) agreement for the Expansion and Upgrading of Water and Sewerage Infrastructure Project.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

The purpose of the project was to increase wastewater transfer — by more than 1,800 cubic meters per day — from Mt. Simpson to La Gogue.

In April 2010, the Seychellois state-owned entity Public Utilities Corporation (PUC) Water & Sewage Division awarded the a SCR 13,969,973 contract to Yangtze Construction for the implementation of this project. However, according to the Ministry of Finance and Trade of Seychelles, the GCL never disbursed.

Therefore, this loan appears to have been suspended in a de facto sense.

At the time that the China Eximbank agreed to issue this loan (in 2007), the Government of Seychelles was undergoing a period of debt distress and suspending or cancelling other loans (see Record ID#73577).

📋 Staff Comments

This project is also known as the Mt. Simpson/La Gogue Raw Water Transfer Project and the Mahé Island Sewer & Water System Project.
The Chinese project title is 塞舌尔公共事业公司（PUC）环岛供水项目.
In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it identifies a $1 million China Eximbank loan commitment in 2007 for this project. However, in December 2020 email correspondence with AidData’s Executive Director, Seychelles’ Ministry of Finance provided official documentation that clearly states the the original face value of the loan was RMB 70 million ($10.6 million).
Whereas SAIS-CARI identifies the status of this loan as an official commitment (‘signed’), AidData has status-coded this loan as a cancellation based upon the official documentation that it received from the Ministry of Finance of Seychelles.

📚 Sources & References

Conditionality in Chinese Bilateral Lending
National Assembly of Seychelles
Tuesday April 1st, 2008
Continuation of 2008 Budget Address by the Minister for Finance
Danny Faure, 21 JULY 2009
EXIM BANK OF CHINA DEBT STATUS AND RESTRUCTURING NEGOTIATIONS
RE: Request for List of Loans from Chinese Government Institutions to Seychelles
RE: Request for List of Loans from Chinese Government Institutions to Seychelles
驻外机构中国沈阳国际经济技术合作有限公司
Seychelles National Tender Board Awarded April 2010
State Of The Nation Address By President James Alix Michel : 25th February, 2011
Joint Annual Report 2007
European Union - Republic of Seychelles 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.