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Chinese Government provides RMB 40 million interest-free loan for Bamako International Conference Center Renovation Project (Linked to Record ID#58690, ID#58682)
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Mali |
| Country | Mali |
| Start Date | Aug 16, 2016 |
| End Date | Aug 06, 2032 |
| Duration | 5,834 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 73239 |
Grant Description
Chinese Government provides RMB 40 million interest-free loan for Bamako International Conference Center Renovation Project On August 16, 2016, the Deputy Director of the Bureau of International Economic Cooperation from China’s Ministry of Commerce, Zeng Huacheng, and visiting Malian Ministry of Culture consultant Mr.
Bouraima Fofana signed an implementation agreement for the Bamako International Conference Center Renovation Project. The total cost of the project was RMB 170 million (17 billion CFA francs).
Approximately RMB 130 million (13 billion francs) was financed through a grant from China’s Ministry of Commerce and approximately RMB 40 million (4 billion CFA francs) was financed through an interest-free loan from the China’s Ministry of Commerce.
The grant funding was drawn from an economic and technical cooperation agreement (ETCA) that the two government signed on February 24 and December 22, 2014.
Record ID#58682 captures the grant commitment for this project and Record ID#73239 captures the interest-free loan for this project.
The Bamako International Conference Center has a total construction area of approximately 11,800 square meters, and the renovation project focused on repairing the conference building, administrative office building, power distribution room, outdoor pipelines and road squares, and upgrading the air conditioning system, conference system, and security system.
China Railway Engineering Design Consulting Group Co., Ltd. was responsible for project design and management. China State Construction Engineering Corporation was the contractor responsible for project implementation.
On February 20, 2017, the Ministry of Culture made the CICB buildings available to the China Economic and Social Council (CESC) so that work could begin on February 28, 2017 and continue for an estimated 24 months. The CICB officially reopened on January 26, 2019. The construction of the CICB was financed by the Chinese Government.
The Chinese Government subsequently provided funding for its maintenance in in 2005 and 2007 (captured in Record ID#58690 and ID#58686).
Staff Comments
The Chinese project title is 马里巴马科国际会议中心维修项目.Since loan terms for the interest-free loan are unavailable, AidData has set maturity period to 20-years by default and grace period to 10-years by default per China's Foreign Assistance White Paper (http://www.cidca.gov.cn/2018-08/06/c_129925064_3.htm) which states that the maturity period of interest-free loans is 20-years, with a drawdown period of 5-years, grace period of 5-years, and repayment over 10-years. AidData treats the drawdown period as providing 5-years of additional grace.
Sources & References
- 援马里国际会议中心维修项目
- 中国建筑中标援马里国际会议中心维修项目
- 援马里国际会议中心维修项目 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 Mali
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