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China Eximbank provides $40.7 million loan for Tsarasaotra-Ivato Road Rehabilitation Project (Linked to Record ID#52287)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Madagascar |
| Country | Madagascar |
| Start Date | May 18, 2018 |
| End Date | Nov 05, 2028 |
| Duration | 3,824 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 57866 |
Grant Description
China Eximbank provides $40.7 million loan for Tsarasaotra-Ivato Road Rehabilitation Project On May 18, 2018, China Eximbank and the Government of Madagascar signed a $40,747,800 loan agreement for the Tsarasaotra-Ivato Road Rehabilitation Project. This project involved the construction of an 10.93 km road from Tsarasaotra to Ivato.
According to the Government of Madagascar, this loan was provided on “aid semi-concessional” terms. CHEC was the contractor responsible for implementation. Construction began in February 2016 and CHEC reportedly hired 104 Chinese engineers and technicians and 750 employees. This project was ultimately completed on November 2, 2018.
An official project handover ceremony took place on November 5, 2021.
CHEC completed much of the construction work for this project before China Eximbank had signed a loan contract with the Government of Madagascar. This led to a dispute between CHEC and Madagascar’s Ministry of Finance related to non-payment.
Staff Comments
- The French project title is Route Ivato-Tsarasaotra or Route Ivato-Tsarasaotra-Boulevard de l'Europe. The Chinese project title is 马达加斯加塔那那利佛伊瓦图—察哈绍察公路项目 or 伊瓦图—察哈绍察公路项目.
- In 2017, China Eximbank provided a separate loan to finance the expressway connecting Ivato International Airport to Boulevard de l'Europe (as captured via Project ID#52287).
Sources & References
- Bulletin Statistique de la Dette No.11
- Rapport Annuel 2017
- Tsarasaotra - Ivato: Resumption of works
- Infrastructures : La nouvelle route Tsarasaotra Ivato enfin ouverte à la circulation
- Finances Publiques
- 中国港湾3.pdf
- La voie rapide reliant Tsarasaotra à l’aéroport d’Ivato enfin ouverte
- Bras de fer entre CHEC et le ministre des finances
- China's CHEC is getting impatient
- Bras de fer entre CHEC et le ministre des finances
- 中国港湾2.pdf
- Le Chinois CHEC à la rescousse du sommet de la Francophonie
- Tug of war between CHEC and finance ministry
- La voie rapide reliant Tsarasaotra à l’aéroport d’Ivato enfin ouverte
- Transformation numérique : Madagascar bénéficie du soutien de la Banque Mondiale
- 中国港湾.pdf
- BULLETIN STATISTIQUE DE LA DETTE
- B ULLETIN S TATISTIQUE DE LA D ETTE
- Bulletin Statistique de la Dette Nº 22 (Décembre 2021), https://www.sohu.com/a/499556340_267106
- 中资企业在马达加斯加承建的一公路项目顺利完成移交
- Loi n°2018-023
- Document Budgetaire: ANNEXE AU PROJET DE LOI N°034/2018 DU 24 OCTOBRE 2018 PORTANT LOI DE FINANCES POUR 2019
- AFRICAN DEVELOPMENT FUND
- MULTINATIONAL - MADAGASCAR - BEIRA PORT: CORRIDOR DEVELOPMENT AND TRADE FACILITATION PROJECT
- PHASE II
- Gros plan sur la construction de la voie rapide Tsarasaotra Ivato
- Chinese Loans to Africa Database (2022 Update) 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 Madagascar
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