Completed Development AidData Chinese Aid

China Eximbank provides RMB 710 million government concessional loan for Port Moresby City Roads Project

¥710K RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Papua New Guinea
Country	Papua New Guinea
Start Date	Mar 21, 2014
End Date	Jan 13, 2030
Duration	5,777 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`62968`

Grant Description

China Eximbank provides RMB 710 million government concessional loan for Port Moresby City Roads Project On March 21, 2014, the Export-Import Bank of China and the Government of Papua New Guinea signed an RMB 710 million ($110 million) government concessional loan (GCL) agreement for the Port Moresby City Roads Project (Lot 1 and Lot 2).

📋 Loan / Grant Terms

📅 Maturity24.75 years

⏳ Grace Period10.25 years

💹 Interest Rate2%

The proceeds of the GCL were to be used by the borrower to finance a commercial contract that the Government of Papua New Guinea signed with China Harbour Engineering Co., Ltd. on June 14, 2013.

The purpose of the project was to (a) reconstruct an 13 km road (Baruni Road) from Konedobu to Baruni and Gerehu (Lot 1) and (b) reconstruct an 8.7 km road from Gerehu to the 9-Mile Arterial Road (Lot 2). CHEC was the contractor responsible for implementation.

A project commencement ceremony took place on May 7, 2014, and Papua New Guinea's Minister of Transport conducted an on-site project inspection on November 30, 2015. The project was originally scheduled for completion in July 2016.

However, it was ultimately completed on June 22, 2017. 205 Chinese workers and 460 PNG workers were involved in the implementation of this project.

📋 Staff Comments

This project is also known as Lots 1 and 2 of the Port Moresby City Roads Project, Sections 1 and 2 of the Port Moresby City Roads Project, the National Capital City Roads Project, the NCDC Road Improvement Project, the POM City Roads Project, the National Capital District's Road Rehabilitation Project or Construction and Upgrading of National Roads Project. The Chinese project title is NCDC道路改造项目.
In the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020, it identifies the loan commitment (signature) year as 2018. AidData has coded the loan commitment year as 2014 based on the precise loan signature date (March 21, 2014). The World Bank's Debtor Reporting System (DRS) appears to identify the loan commitment year as 2015.
The loan's estimated borrowing terms are drawn from the World Bank's Debtor Reporting System. See https://www.dropbox.com/s/2sw4f7gluxa52fk/DRS%20Official%20Commitments%20from%20China%20Through%202021.xlsx?dl=0 and https://www.dropbox.com/s/ab8qt4n6jijcbhd/IDS_Average%20interest%20on%20new%20external%20debt%20commitments.xlsx?dl=0 and https://www.dropbox.com/s/949n5rctiue6d7c/IDS_Average_grace_period_and_maturity_on_new_external_debt_commitments.xlsx?dl=0

📚 Sources & References

使用我优惠贷款实施的巴新首都道路改造项目举行破土动工仪式
中国与巴新签署优惠贷款协议
China's Papua New Guinea signed a preferential loan framework agreement
Dragon versus Elephant: A Comparative Study of Chinese and Indian Aid in the Pacific
Six new road projects ‘a gamechanger’ for Port Moresby
Feature: Chinese-built road projects driving job growth, connectivity in Papua New Guinea
Major Infrastructure Projects In PNG Continue Despite Economy
The Six Billion Kina Answer
Lowy Institute Pacific Aid Map Database.xlsm
VOLUME 2c: 2017 BUDGET ESTIMATES OF REVENUE AND EXPENDITURE FOR NATIONAL GOVERNMENT DEPARTMENTS
VOLUME 3 PUBLIC INVESTMENT PROGRAM 2014 – 2018
The National Government Critical Activity Matrix Report
FINAL BUDGET OUTCOME 2016
The Report: Papua New Guinea 2014
The Commencement Ceremony of Papua New Guinea NCDC Road ReconstructionProject was Held
Sir WIlliam Skate Highway Opened
CHEC: Work on city roads end in July
Feature: Chinese-built road projects driving job growth, connectivity in Papua New Guinea
PNG NCDC road reconstruction project is won by CHEC
NCDC3
公司中标巴布亚新几内亚NCDC道路改造项目v
巴新交通部部⻓、国防部部⻓视察NCDC道路改造项目
China's Overseas Development Finance
Baruni road present for NCD people on Dec 25
VOLUME 3 PUBLIC INVESTMENT PROGRAM 2018 – 2022
DRS Official Commitments from China Through 2021
IDS_Average interest on new external debt commitments
IDS_Average_grace_period_and_maturity_on_new_external_debt_commitments
VOLUME 3 PUBLIC INVESTMENT PROGRAM 2017 – 2021 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 Papua New Guinea

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