Active Mixed AidData Chinese Aid

China Road & Bridge Corporation tasked with the deep-water port project in Moroni worth roughly 65 billion Comoros Francs

$65M USD

Funder	China Road & Bridge Corporation (CRBC)
Recipient Organization	Government of Comoros
Country	Comoros
Start Date	Jan 01, 2018
End Date	May 22, 2030
Duration	4,524 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`57664`

Grant Description

China Road & Bridge Corporation tasked with the deep-water port project in Moroni worth roughly 65 billion Comoros Francs On March 22nd, 2018, the Vice President in charge of the Ministry of Transport and Spatial Planning and the General Manager of the Chinese company China Road and Bridge Corporation (CRBC) signed a contract for the construction of a deepwater port on the current site of the port of Moroni.

The project is expected to cost roughly 65 billion Comoros Francs.

The site was decided upon after a feasibility study done by CRBC. (http://crfimmadagascar.org/en/infrastructure-critique-maritimepetrole-et-gaz/media-comores-port-de-moroni-plus-de-65-milliards-construction-dun-port-eau-profonde/).

The project is expected to take two years for completion but no start date has been established yet (Port de Moroni : Plus de 65 milliards pour la construction d’un port en eau profonde).

On March 22, 2018, a feasibility study was conducted, and the site of the current Moroni harbor is chosen for the construction of the new deep-water port. Though multiple sources indicate that Chinese funding is certainly involved, no specific details have been uncovered.

📋 Staff Comments

Need to further investigate if this is a loan or grant. Loan details are entered in the loan screen but Stage 2 Coder is unsure where they came from. As of March 2022, no new updates have been made on this project.
The loan terms previously entered (2.1% interest rate, 30-year maturity, 5-year grace period, 59.7609 Grant Element (OECD Cash-Flow), 55.6976 Grant Element (OECD Grant-Equiv), 31.3982 Grant Element IMF, 12/31/2022 First Loan Repayment Date, 12/25/2047 Last Loan Repayment Date, etc.) have been removed due to lack of documentation {{see project comments & revision history}}. Multiple internal reviews, including reference to a 2019 World Bank document (pg. 77), provide no evidence that a Chinese loan or grant was issued for this project. Interest Rate Type set to Unknown.

📚 Sources & References

Comoros Islands
Union of the Comoros : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Union of the Comoros
Port Development and Competition in East and Southern Africa:
Port de Moroni : Plus de 65 milliards pour la construction d’un port en eau profonde, (News) COMOROS- Port of Moroni: More than 65 billion for the construction of a deep water port
Port of Moroni 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.