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China Eximbank provides RMB 800 million government concessional loan for Lot 3 of Akassato-Bohicon Road Rehabilitation Project (Linked to Record ID#30834, #58722, #73406)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Benin |
| Country | Benin |
| Start Date | Aug 23, 2013 |
| End Date | Nov 25, 2028 |
| Duration | 5,573 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 58807 |
Grant Description
China Eximbank provides RMB 800 million government concessional loan for Lot 3 of Akassato-Bohicon Road Rehabilitation Project On October 5, 2012, the Chinese Government and the Government of Benin signed a CFA 129 billion preferential loan framework agreement for the Akassato-Bohicon Road Rehabilitation Project.
In 2013, China’s Ministry of Commerce and the Government of Benin signed an RMB 141 million interest-free loan agreement for Lot 1 and an RMB 362.1 million interest-free loan agreement for Lot 2.
The borrower agreed to deposit project-related revenues in a special account to facilitate repayment.
The proceeds of the MOFCOM loan for Lot 1 were to be used by the borrower to finance a commercial contract with China Geo-Engineering Corporation (CGC).
The proceeds of the MOFCOM loan for Lot 2 were to be used by the borrower to finance a commercial contract with Chongqing International Construction Corporation (CICO) worth 30 billion CFAF.
The proceeds of the GCL were to be used by the borrower to finance a commercial contract (ID#74/MTPT/DNCMP/SP) between Benin’s Ministry of Public Works and Transportation and China Xinxing Group General Corporation, which was signed on March 5, 2013.
The Akassato-Bohicon Road Rehabilitation Project involved the rehabilitation of a 103.8 km road segment along the No. 2 Interstate Highway from Akassato to Bohicon. The project was divided into three lots. Lot 1 involved the rehabilitation of a 12.3 km section from Akassato to Glo-Djigbé (PK 14 + 200 to PK 26 + 500).
Lot 2 involved the rehabilitation of a 19.26 km section from Glo-Djigbé to Allada (PK 26 + 500 to PK 45 + 760). Lot 3 involved the rehabilitation of a 73 km section from Allada to Bohicon (PK45 + 760 to PK1 17 + 865). CGC, CICO, and China Xinxing Group General Corporation were the contractors responsible for project implementation.
A formal groundbreaking ceremony for Lot 1 took place on January 5, 2013; however, Lot 1 construction did not commence until April 30, 2013. Lot 1 was officially handed over to the Government of Benin on August 12, 2015. A formal groundbreaking ceremony for Lots 2 and 3 was held on January 16, 2014.
Lot 2 was officially handed over to the Government of Benin on September 28, 2016. Lot 3 was completed in March 2016. Record ID#30834 captures the CFA 129 billion preferential loan framework agreement. Record ID#58722 captures the RMB 141 million interest-free loan from MOFCOM for Lot 1. Record ID#73406 captures the RMB 362.1 million interest-free loan from MOFCOM for Lot 2.
Record ID#58807 captures the RMB 800 million interest-free loan from China Eximbank for Lot 3.
Staff Comments
- The French project title is Projet de Réhabilitation de la route Akassato-Bohicon. The Chinese project title is 阿卡萨多-博依贡公路 or 贝宁阿卡萨多—博伊贡公路项目 or 阿卡萨托—博希孔公路修复工程.
- According to the Parliament of Benin, the Chinese Government provided RMB 503.1 million of loans for Lot 1 and Lot 2. The face value of the loan that supported Lot 1 was RMB 141 million, so AidData assumes that the face value of the loan that supported Lot 2 was RMB 362.1 million.
- The China Eximbank loan agreement for Lot 3 can be accessed in its entirety via https://www.documentcloud.org/documents/20484916-ben_2013_526
Sources & References
- Akassato-Bohicon: démarrage du tronçon lot 2 du projet de réhabilitation
- Allocution de S.E.M. DIAO Mingsheng à l'occasion de la réception organisée pour célébrer le 66e anniversaire de la fondation de la République populaire de Chine
- Assemblée Nationale : adoption du projet de financement partiel de réhabilitation de la route Akassato-Bohicon
- Benin 2019 Bond Prospectus
- Benin-Cotonou: EEF — Bauleitung und Bauaufsicht für die Sanierungsarbeiten der zwischenstaatlichen Nationalstraße Nr. 2
- Abschnitt: Allada — Bohicon (73 km)
- BEN_2013_526
- Chinese Loans to Africa Database
- DECRET N'2013-343 DU 30 AOUT 2013
- DECRET N'2013-343 DU 30 AOUT 2013
- LES TRAVAUX DE LA ROUTE AKASSATO-BOHICON DEMARRENT ENFIN
- Liste de prêts des institutions gouvernementales chinoises de 2000 à 2017
- Portefeuille détaillé des Projets Actifs au 30 septembre 2016
- Road Rehabilitation Project Akassato Bohicon LOT 1: 12.3km
- Réhabilitation de la route Akassato-Bohicon:Le lancement des travaux des lots 2 et 3 prévu pour ce mois (Lire un extrait du communiqué du Conseil des ministres)
- THE REPUBLIC OF BENIN PROSPECTUS
- 中地集团贝宁阿克萨多-博伊贡公路第一标段移交仪式
- 刁鸣生大使出席援贝宁阿-博公路二标段交接仪式
- 我大使与贝宁财长签署优惠贷款协议
- 贝宁政府公共工程部致函表彰新兴集团并颁发嘉奖令
- 驻贝宁大使刁鸣生视察贝宁阿卡萨多—博伊贡公路项目
- 驻贝宁大使陶卫光出席中国援贝阿—博公路二、三标段开工仪式
- 驻贝宁大使陶卫光出席中国援贝阿—博公路二、三标段开工仪式
- 驻贝宁大使陶卫光出席阿—博公路三标段贷款协议签字仪式 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.
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