Completed Mixed AidData Chinese Aid

China Eximbank provides RMB 16.7 million loan for Palapye Housing Project (150 Units) Project

¥16.7M RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Botswana
Country	Botswana
Start Date	Mar 25, 2003
End Date	Jun 03, 2032
Duration	10,663 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`73136`

Grant Description

China Eximbank provides RMB 16.7 million loan for Palapye Housing Project (150 Units) Project In 2003, China Eximbank and the Government of Botswana signed a RMB 16,700,010 loan agreement for the Palapye Housing Project (150 Units) Project.

📋 Loan / Grant Terms

💰 Loan Amountcarried the following terms: a 12 year maturity

📅 Maturity12 years

⏳ Grace Period5 years

💹 Interest Rate4%

Its final maturity date was July 2, 2015.

The Government of Botswana used the proceeds from the loan to on-lend to the Botswana Housing Corporation (BHC) at a significantly higher interest rate (approximately 8.5%). The loan was approved on 25 March 2003.

The BHC, in turn, used the proceeds from its subsidiary loan agreement with the Government of Botswana to construct 150 housing units in the town of Palapye.

Complant Botswana (Pty) Ltd., a subsidiary of China National Overseas Engineering Corporation, was the contractor responsible for implementation. This project was completed, but its precise date of completion is unknown.

📋 Staff Comments

This project is also known as the BHC Palapye Housing Project and the Palapye BHC Houses - 150 Houses Project. The loan details can be found in the source 'Government of Botswana External Debt Tables 2010'.

📚 Sources & References

Botswana: Chinese Projects Create Over 2000 Jobs
BOTSWANA HOUSING (PALAPYE) PROJECT LOAN (AUTHORIZATION) ACT, 2003
Government of Botswana External Debt Tables 2010
Annual Statement of Accounts For the Financial Year Ended 31 March 2016 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.