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Chinese Government pledges $20 million USD interest-free loan for Social Housing Construction Project
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Guinea-Bissau |
| Country | Guinea-Bissau |
| Start Date | Jan 01, 2014 |
| End Date | Sep 09, 2029 |
| Duration | 5,730 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 73510 |
Grant Description
Chinese Government pledges $20 million USD interest-free loan for Social Housing Construction Project In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it identified a $20 million USD interest-free loan commitment in 2014 from the Chinese Ministry of Commerce for a Social Housing Construction Project in Guinea-Bissau.
The purpose of this project is to construct between 200 and 250 social housing units in the village of Bissalanca, which is located next to Osvaldo Vieira International Airport.
These housing units are meant to accommodate displaced people from the neighborhoods of Reno and Mindara in the capital city of Bissau (where existing housing units will be demolished to make way for new residential blocks).
However, in June 2018 email correspondence between AidData’s Executive Director and the Director General of the Office of the Secretary of State for Planning and Regional Integration in Guinea-Bissau did not confirm receipt of any such loan.
Nor has AidData has identified any other official sources that corroborate the receipt of such a loan (i.e. the signing of a loan agreement on a specific date).
Also, as of November 2020, there was no evidence in the World Bank Debtor Reporting System that the Government of Guinea-Bissau has any outstanding debt obligations to the Chinese Government. Therefore, AidData has status-coded this project as a pledge rather than an official commitment. The Portuguese project title is Construção de mais de duas centenas de habitações sociais.
Staff Comments
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
- Debt Service Payments Due
- Debt Service Payments Due
- CHINA BUILDS MAIN COURTHOUSE IN GUINEA-BISSAU
- China Machinery Engineering Corporation vai construir aeroporto na Guiné-Bissau
- Financiamento da China aguarda que Guiné-Bissau defina projectos
- China apoia Guiné-Bissau a construir habitação social
- Governo da Guiné-Bissau prepara programa de habitação social em parceria com a China
- China co-operates with Guinea Bissau in social housing plan
- China supports Guinea-Bissau to build social housing
- FINANCIAMENTO CHINÊS (DONATIVOS E EMPRESTIMOS) AOS PROJETOS DE INVESTIMENTO DA GUINÉ-BISSAU
- Chinese Loans to Africa Database
- Pedido de Lista de Doações e Empréstimos de Instituições Governamentais Chinesas
- Guinea-Bissau: China Sees a Risk Worth Taking 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 Guinea-Bissau
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