Completed Development AidData Chinese Aid

China Eximbank provides a $13.5 million loan for the 2 Shore-Based Container Gantry Cranes Project (Linked to Record ID#57003, #69139, and #69143)

$13.59M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Port Authority of Jamaica
Country	Jamaica
Start Date	Jun 13, 2006
End Date	Aug 16, 2028
Duration	8,100 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`69122`

Grant Description

China Eximbank provides a $13.5 million loan for the 2 Shore-Based Container Gantry Cranes Project On June 13, 2006, the Export-Import Bank of China and the Port Authority of Jamaica signed a $13,586,916 loan agreement for the 2 Shore-Based Container Gantry Cranes Project.

The purpose of this project was to acquire 2 shore-based gantry cranes (ship-to-shore gantry cranes) for use at Kingston Container Terminal.

📋 Loan / Grant Terms

💰 Loan Amountcarried the following borrowing terms: a maturity period of 7

The first date of loan repayment was July 13, 2007 and the maturity date of the loan was January 13, 2014. The Government of Jamaica provided a sovereign guarantee for the loan. As of October 30, 2021, the loan had achieved a 100% disbursement rate ($13,586,916 out of $$13,586,916). Its outstanding amount was zero as of October 30, 2021.

The cranes from Shanghai Zhenhua Port Machinery Company Ltd. (ZPMC) arrived from China on January 24, 2007.

📋 Staff Comments

The China Eximbank loan that supported this project is not included in the China-Latin America Finance Database, co-produced by the Inter-American Dialogue and Boston University’s Global Development Policy Center.
This project is linked to Project ID#57003, #69139, and #69143 because all four projects relate to the larger Jamaican goal of renovating port facilities.
For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.

📚 Sources & References

Correspondence between AidData Executive Director and Jamaica MOF representative
House Approves Govt. Guarantee for Us$30.1 Million Loan to Port Authority
US$13.7M Contract Approved for Civil Works at Kingston Container Terminal
Port Authority secures loans
US$21m loan for Port Authority
Chairman's Report 2006-2007
China-Latin America Finance Database
Correspondence between AidData and Jamaican Ministry of Finance and Public Service
Port Authority of Jamaica 2006-2007 Annual Report
Status of Loans from China, 12/31/2018
Status of Loans from China, 10/31/2021
Annual Report 2012-2013
Annual Report 2009
Annual Report 2010
Annual Report 2011-2012
Annual Report 2013-2014 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

Port Authority of Jamaica

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