Completed Development AidData Chinese Aid

China Eximbank provides a $20.6 million USD loan for the Ship-to-Shore Gantry Crane Acquisition Project (Linked to Record ID#69122, #69139, and #69143)

$20.66M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Port Authority of Jamaica
Country	Jamaica
Start Date	May 11, 2004
End Date	Jul 10, 2033
Duration	10,652 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`57003`

Grant Description

China Eximbank provides a $20.6 million USD loan for the Ship-to-Shore Gantry Crane Acquisition Project On May 11, 2004, the Export-Import Bank of China and the Port Authority of Jamaica signed a $20,657,968.00 USD loan agreement for the Ship-to-Shore Gantry Crane Acquisition Project.

The purpose of this project was to design and construct 4 shore-based gantry cranes (ship-to-shore gantry cranes) for use at Kingston Container Terminal.

📋 Loan / Grant Terms

💰 Loan Amountcarried the following borrowing terms: a maturity period of 8

The first date of loan repayment was January 21, 2006 and the maturity date of the loan was July 21, 2012. The Government of Jamaica provided a sovereign guarantee for the loan. As of October 30, 2021, the loan had achieved a 100% disbursement rate ($20,657,968.00 out of $20,657,968.00). Its outstanding amount was zero as of October 30, 2021.

The gantry cranes were delivered to Jamaica from a Chinese manufacturer (Zhenhua Heavy Industries Company Limited) on January 12, 2005.

📋 Staff Comments

This project is also known as the Design and Construction of Four Shore Based Gantry Cranes Project and the Gordon Cay Expansion Project.
One source suggests that the interest rate of this loan was 5.9%. However, AidData relies on the interest rate (3.79%) that Jamaica's Ministry of Finance and the Public Service identified in May 2020 (based on its own internal records).
The China Eximbank loan that supported this project is not included in the China-Latin America Finance Database, co-produced by the Inter-American Dialogue and Boston University’s Global Development Policy Center.
This project is linked to Project ID#69122, #69139, and #69143 because all four projects relate to the larger Jamaican goal of renovating port facilities.

📚 Sources & References

Government Guarantee of Loans to Port Authority of Jamaica from the European Investment Bank and the China Export-Import Bank for the Gordon Cay Expansion Project
Correspondence between AidData Executive Director and Jamaica MOF representative
House Approves Govt. Guarantee for Us$30.1 Million Loan to Port Authority
US$13.7M Contract Approved for Civil Works at Kingston Container Terminal
House Approves Gov’t Guarantee of $111.5 Million Loan for Port Expansion
Annual Report 2012-2013
US$21m loan for Port Authority
Port Authority secures loans
Port Authority Acquires 4 Gantry Cranes at a Cost of US$23 Million
Public Library of US Diplomacy
China-Latin America Finance Database
Status of Loans from China, 12/31/2018
Annual Report 2009
Annual Report 2010
Annual Report 2011-2012
Status of Loans from China, 10/31/2021 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

Port Authority of Jamaica

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