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China Eximbank agrees to provide loan for Namibian Broadcasting Corporation Renovation Project (linked to Record ID#s #1314, #1334, and #61034)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Namibia |
| Country | Namibia |
| Start Date | Feb 05, 2007 |
| End Date | Apr 19, 2029 |
| Duration | 8,109 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 61036 |
Grant Description
China Eximbank agrees to provide loan for Namibian Broadcasting Corporation Renovation Project On February 5, 2007 on an official tour across Africa, Chinese President Hu Jintao pledged to provide an RMB 1 billion concessional loan facility to be used at the discretion of the Government of Namibia (recorded in Record ID#1314).
Then, in December 2007, China Eximbank and the Government of Namibia signed an RMB 1 billion concessional loan framework agreement, which identified several projects that would be funded according to a consistent set of terms and conditions. This project records the committed loan for the Namibian Broadcasting Corporation Renovation Project.
These projects reportedly included an RMB 300 million loan for the Modern Customs Scanning Equipment Acquisition Project (recorded in Record ID#1241), an RMB 44 million loan for the Electronics Document and Record Management Systems (EDRMS) Project (recorded in Record ID#1242), a $16.4 million loan for road construction in Eiseb Block Phase I (recorded in Record ID#61037), and a $748,357 loan for Namibia Institute of Pathology (NIP) laboratories (recorded in Record ID#61032).
An additional RMB 645 million was reportedly set aside for three projects: Phase 2 of the Northern Railway Line Extension Project (recorded in Record ID#1334), the Oshakati State Hospital Renovation Project (recorded in Record ID#61034), and the Namibian Broadcasting Corporation Renovation Project (recorded in this project).
For the Namibian Broadcasting Corporation Renovation Project, the facilities of the Namibian Broadcasting Corporation were renovated and expanded, as the facilities were built during the colonial era.
As the breakdown of the financing between these three projects is unknown, the RMB 645 million committed for the three projects is recorded in Record ID#1334.
This framework agreement was signed by China’s Ambassador to Namibia Ren Xiaoping and Nambia’s Minister of Finance Saara Kuugongelwa-Amadhila.
He told a local newspaper that 'We did not suspend any agreements, we just told them that the terms were too burdensome for our financial situation.’
Staff Comments
AidData has coded this project as a pledge rather than a commitment as it is not clear that a subsidiary loan agreement was ever signed for the Namibian Broadcasting Corporation Renovation Project.
Sources & References
- China and India’s Development Cooperation in Africa: The Rise of Southern Powers
- Namibian
- Chinese trade enjoys rapid growth
- The Forum on China-Africa Cooperation and Its Significance for Namibia
- Country Strategy Paper 2009-2013
- Namibia: Country Overcharged By Chinese Company 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 Namibia
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