Completed Mixed AidData Chinese Aid

China Eximbank provides $290.3 million preferential buyer’s credit for Phase 2 of Bata City Power Grid Expansion Project (Linked to Record ID#2108)

$290.32M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Equatorial Guinea
Country	Equatorial Guinea
Start Date	Jul 28, 2016
End Date	Oct 20, 2031
Duration	5,562 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`61221`

Grant Description

China Eximbank provides $290.3 million preferential buyer’s credit for Phase 2 of Bata City Power Grid Expansion Project On July 28, 2016, the Government of Equatorial Guinea and China Eximbank signed a $290,321,617.40 preferential buyer’s credit (PBC) agreement [CHINA EXIMBANK PBC NO. (2015) 6 TOTAL NO. (348)] for the Phase 2 of Bata City Power Grid Expansion Project.

The borrowing terms of the PBC are unknown.

The proceeds of the PBC were to be used by the borrower to finance a commercial contract with Sinohydro Bureau 6 Co., Ltd. (a subsidiary of PowerChina), which was signed on October 8, 2013.

According to Caja Autónoma de Amortización de la Deuda Pública within Equatorial Guinea’s Ministry of Finance and Budget, the China Eximbank PBC for the project had disbursed $181,649,992.31 as of December 31, 2019 and the borrower had made principal ($1,378,409.16) and interest ($4,568,272.73) payments worth $5,946,681.89 as of December 31, 2019.

The loan's principal amount outstanding was $180,271,583.15 as of December 31, 2019.

The project involved the construction of a 20KV medium voltage power grid, a 20KV medium voltage household metering system, a 20KV distribution network automation system, a low voltage power grid system, a low voltage household metering system, and new road lighting. It ultimately sought to provide electricity connections for all households in the the city of Bata.

It officially commenced on September 1, 2017 after the signing of a supplementary agreement to the commercial contract, and it was originally expected to reach completion within 20 months (May 1, 2019).

China’s Counsellor of the Economic and Commercial Office in Equatorial Guinea, Su Jianguo, inspected the project's progress in February 2018. This project was ultimately completed on or around December 6, 2019. A final project handover certificate was issued on April 10, 2021.

📋 Staff Comments

This project is also known as Equatorial Guinea Expansion and Modernization of City Power Distribution Network Project in Bata (Phase Two). The Chinese project title is 署巴塔城网二期项目 or 巴塔城市电网二期供电入户改扩建工 or 赤道几内亚巴塔电网 or 了巴塔电网二期项目 or 中国电建赤几巴塔电网二期工程 or BATA城市电网Ⅱ期. The Spanish project tittle is Expansión y Modernización de la Red de Transmisión Eléctrica de Bata (Fase II) or El proyecto de expansión y modernización de la Red de Distribución eléctrica en la Ciudad de Bata (fase dos) en Guinea Ecuatorial.
This China Eximbank loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020. Nor is it included it in the China’s Overseas Development Finance Dataset that Boston University's Global Development Policy Center published in December 2020.
The face value of the loan is drawn from ‘Cuadro General de la deuda al 31/12/2019’ from the Caja Autónoma de Amortización de la Deuda Pública within Equatorial Guinea’s Ministry of Finance and Budget.
China Eximbank also financed Phase 1 of Bata City Power Grid Expansion Project (as captured via Record ID#2108).
The borrower made debt service payments to the lender from an escrow account (ID#1360000100001102708). See https://www.dropbox.com/scl/fi/pk6rsp7qlg3uigv79jk4t/ordenes_de_pago_2020.pdf?rlkey=woy2yflgemcgvglz4392qg3qm&dl=0

📚 Sources & References

巴塔城网二期项目优买贷款协议在京签署
驻赤道几内亚大使亓玫发表署名文章《加强中赤几合作的重要契机》, 【海外】海外项目如何做好融资基础工作？这个历经2年融资成功的非洲电网项目很典型!
驻赤道几内亚大使亓玫发表署名文章《加强中赤几合作的重要契机》
驻赤几大使馆参赞视察巴塔城市电网二期入户项目
Expansión y Modernización de la Red de Transmisión Eléctrica de Bata (Fase II)
DESARROLLO DE COOPERACIÓN ECONÓMICA Y COMERCIAL ENTRE CHINA Y GUINEA ECUATORIAL
机电工程公司签订赤几巴塔电网改造（二期）1.63亿元工程
巴塔城市电网二期供电入户改扩建工程竣工移交
驻赤道几内亚大使赞赏公司为双边关系做出卓越贡献, 【非洲分公司】赤道几内亚巴塔电网扩建和改造工程完成移交, 【非洲分公司】巴塔城市电网二期供电入户改扩建工程竣工移交
Chinese company completes and delivers grid expansion project for Bata
EG
List of Chinese loans published of Equatorial Guinea Ministry of Finance Website in 2021, deuda externa e interna
中资企业在赤道几内亚最大城市承建供电项目正式移交
中资企业在赤道几内亚最大城市承建供电项目正式移交
中企承建赤几巴塔城市电网扩建项目竣工移交
赤道几内亚工业能源部长向赤道几内亚代表处发来感谢函
Ordenes de Pago 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 Equatorial Guinea

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