China Eximbank restructures 1997 loan for Phase 2 of East Coast Housing Project in 2004 (Linked to Record ID#13307, ID#67502, ID#67504, ID#73590, ID#73592, ID#73593)

On August 4, 1997, China Eximbank and the Government of Seychelles signed an RMB 50,000,000 government concessional loan (GCL) agreement [CHINA EXIMBANK GCL NO.8 (97) 1997] for Phase 2 of East Coast Housing Project. The purpose of this project was to construct 160 housing units in the Roche Caiman district.

Loan repayments were to be made between 2000 and 2005. Total disbursements through this loan amounted to RMB 49,282,473.

Then, on August 29, 2000, China Eximbank and the Government of Seychelles signed an agreement [CHINA EXIMBANK GCL NO.8A (97) 1997] to reschedule the repayment terms of this loan.

The parties also agreed that repayments would be made between 2003 and 2008. 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.