China Eximbank pledges $537 million loan for Phase 1 and Phase 2B of Windhoek to Hosea Kutako International Airport Road Project (linked to Record ID#s #60979 and #60977)

China Eximbank pledges $537 million loan for Phase 1 and Phase 2B of Windhoek to Hosea Kutako International Airport Road Project On November 12th, 2015, China Eximbank agreed in principle to provide a $537 million concessional loan to the Government of Namibia for Phase 1 (see the linked Record ID#60979) and Phase 2B (see the linked Record ID#60977) of Windhoek to Hosea Kutako International Airport (HKIA) Road Project.

This project involves the upgrading of 40-kilometer road project from Windhoek to HKIA.

In 2016, Namibia ‘canceled’ the $537 million loan following public outcry over cost concerns and rising level of national debt. Namibian President Hage Geingob then began to explore other Chinese financing options.

In December 2015, the Namibia Airports Company (NAC) awarded a N$6.8 billion tender for the project to Anhui Foreign Economic Construction Group, but it subsequently cancelled the tender in 2016 citing awarding irregularities.

On August 28, 2017, the Chinese Government and the Government of Namibia signed an Economic and Technical Cooperation Agreement (ETCA), which committed an RMB 200 million (N$400 million) grant for Phase 1 of the Windhoek to Hosea Kutako International Airport Road Project (recorded in the linked Record ID#60979).