Completed Mixed AidData Chinese Aid

China Eximbank provides $43.3 million buyer’s credit loan for Dalian II Road Infrastructure Project (Linked to Record ID#36690, #36735 and #55419)

$43.34M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Suriname
Country	Suriname
Start Date	Feb 24, 2004
End Date	Nov 20, 2031
Duration	10,131 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`55908`

Grant Description

China Eximbank provides $43.3 million buyer’s credit loan for Dalian II Road Infrastructure Project On February 24, 2004, China Eximbank and the Government of Suriname signed a $43,341,789 buyer’s credit loan (BCL) loan for the Dalian II Road Infrastructure Project.

📋 Loan / Grant Terms

💹 Interest Rate4.65%

The borrower was expected to use the proceeds of the BCL to finance 85% of the cost of a commercial contract between the Government of Suriname and Dalian International Economic and Technical Cooperation Group (CDIG).

In May 2018, the Back Office Manager of the Suriname Debt Management Office (Cindy Eersel) provided AidData's Executive Director (Brad Parks) with data from the Suriname Debt Management Office that indicates this loan was fully repaid and the project was completed. A 2016 Financial Note from Suriname’s Ministry of Finance confirms that the loan was repaid in full in 2016.

The purpose of the project was rehabilitate 275 km inland roads in the Greater Paramaribo area.

The project scope included the reasphalting of the East-West connection, including the Meerzorg-Albina and Paramaribo-Afobakka road sections. CDIG was the contractor responsible for implementation. On March 12, 2004 a groundbreaking ceremony was held for the project.

The political opposition accused the ruling party of using the project as a political stunt in to the run-up to the 2005 elections. The reasphalting of the Meerzorg-Albina road section was complete as of November 2010. As of October 2016, the project was reportedly 'stalled'. The project’s precise completion date is unknown.

📋 Staff Comments

This project is also known as the 'Dalian II' Project, the Phase II Road Project, and the City Road Building Project.
The China-Latin America Finance Database, which is co-produced by the Inter-American Dialogue and Boston University’s Global Development Policy Center, does not capture the China Eximbank loan that supported this project.
Some sources refer to CDIG as the contractor responsible for implementation. Other sources refer to the China Dalian International Company or China Dalian International Cooperation (Group) Holdings Ltd.
This project was part of the larger Suriname National Infrastructure Project that China Eximbank and China Dalian International Company helped finance and implement in various phases (as captured via Record ID#36690, #36735, and#55419).
One official source suggests that Dalian II supported 175 km rather than 275 km of roads. This issue warrants further investigation.

📚 Sources & References

大连国际苏里南再签大单
Improving the Trade Facilitation Environment in Suriname
Chinese new migrants in Suriname : the inevitability of ethnic performing
苏政府将与中国进出口银行签订信贷合同
China Eximbank 2004 Annual Report
Building Development for a New Era: China’s Infrastructure Projects in Latin America and the Caribbean
Lijst van Bilaterale Overeenkomsten
The Rehabilitation and Reconstruction of 275km(asphalt)Roads in Paramaribo,Suriname
中国大连国际合作(集团)股份有限公司苏里南国家基础设施建设项目简介
大连国际公司承建苏里南首都275公里道路二期项目开工
大连国际公司与苏里南政府正式签定了新的道路修建合同
大连国际与苏方签定新的275公里道路维修项目意向
Financiele Nota 2016
Request for List of Loans from Chinese Government Institutions Since 2000
苏里南举行大连住房二期项目启动仪式
Parliamentarian: Surinam super loan not certain
Chinese New Migrants in Suirname The Inevitability of Ethnic Performing
Rechtmatige bewoner Dalian II project, bedreigd STVS JOURNAAL 23 oktober 2021
Asfalteringsproject Dalian 2 in februari van start - 19-10
East-West Link (Suriname)
CHINA DALIAN INTERNATIONAL COOPERATION [CDIG]
Dalian trucks mogen niet uit werkroute 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 Suriname

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