Completed Development AidData Chinese Aid

Chinese Government provides CVE 1.4 billion interest-free loan for Phase 2 of the National Stadium Construction Project (Linked to Record ID#21687, #56508, #56521, #72794)

$1.4M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of Cabo Verde
Country	Cabo Verde
Start Date	Jan 01, 2012
End Date	Jun 27, 2026
Duration	5,291 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`56498`

Grant Description

Chinese Government provides CVE 1.4 billion interest-free loan for Phase 2 of the National Stadium Construction Project In January 2012, the Chinese Government and the Government of Cape Verde signed an interest-free loan agreement for Phase 2 of the National Stadium Construction Project.

The estimated value of this loan from China’s Ministry of Commerce (MOFCOM) is CVE 1.4 billion ($15.4 million or EUR 12.7 million).

Phase 2 involved an expansion in the capacity of the National Stadium (Estádio Nacional de Cabo Verde) from 10,000 seats to 15,000 seats. Huashan International Construction Corporation was the contractor responsible for implementation.

Between December 21, 2012 to December 29, 2012, a team of experts commissioned by MOFCOM’s Economic Cooperation Bureau conducted a mid-term quality inspection of Phase 2 and construction was originally scheduled for completion in August 2013.

Then, on February 14, 2014, the Chinese Government and the Chinese Government signed a supplementary agreement for Phase 2, but it is unclear if this agreement involved an additional financial commitment.

A stadium opening ceremony was held on August 23, 2014 and the stadium hosted its first international soccer competition on September 10, 2014. A project handover ceremony took place on August 31, 2015.

📋 Staff Comments

The Chinese project title is 佛得角体育场全景 or 佛得角国家体育场二期项目. The Portuguese project title is Segunda fase da construção do Estádio Nacional or Ampliação do Estádio Nacional em mais 5 mil lugares.
The interest-free loan that MOFCOM issued in 2012 for Phase 2 of the National Stadium Construction Project is not included in the database of Chinese loan commitments to African governments that SAIS-CARI released in 2020.
Since the borrowing terms of the interest-free loan are unavailable, AidData has set maturity to 20-years by default and grace period to 10-years by default, per China's Foreign Assistance White Paper (http://www.cidca.gov.cn/2018-08/06/c_129925064_3.htm) which states that the maturity of interest-free loans is 20-years, with a drawdown period of 5-years, grace period of 5-years, and repayment over 10-years. AidData treats the drawdown period as providing 5-years of additional grace.
The Chinese Government also financed a National Stadium Access Road Construction Project (captured in Project ID#56521) and two phases of a National Stadium Technical Cooperation Project in 2015 (captured in Project#56508) and 2017 (Project ID#72794).

📚 Sources & References

中国援佛得角国家体育场二期项目施工补充合同签署
Stadium built by China in Cabo Verde due to open on 5 July 2014
Cabo Verde National Stadium built with support from China due to be inaugurated soon
Cape Verde National Stadium opened in July 2014
援佛得角国家体育场二期项目通过中期验收
中国援佛得角国家体育场二期项目施工补充合同签署
佛得角隆重举行中国援建国家体育场启用庆典
援佛得角体育场项目奠基仪式隆重举行
Chinese contractor finishes building Cape Verde’s national stadium in October 2013
Laying today the first stone of the National Stadium
佛得角体育场全景
China emprestou mais de 80 milhões de dólares a Cabo Verde
佛得角国家体育场
佛得角国家体育场
援佛得角国家体育场项目
援佛得角国家体育场项目通过竣工验收
佛得角隆重举行中国援建国家体育场启用庆典
Estádio financiado pela China em Cabo Verde inaugurado a 23 de Agosto
China entrega Estádio Nacional
Cabo Verde inaugura Estádio Nacional
Embaixador da China entrega Estádio Nacional de Cabo Verde
Cabo Verde e China assinam acordos de financiamento de mais de 80 milhões de dólares
援佛得角国家体育场项目
援佛得角国家体育场项目通过竣工验收
援佛得角国家体育场项目
Estádio Nacional vai ter energia renovável
我国援建佛得角国家体育场成功举办佛得角第四届地方经济发展世界论坛 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.