Active Development AidData Chinese Aid

China Eximbank provides RMB 2.564 billion government concessional loan for Malabo City Water Supply Project

¥2.56M RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Equatorial Guinea
Country	Equatorial Guinea
Start Date	Dec 13, 2019
End Date	Dec 04, 2033
Duration	5,105 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`86196`

Grant Description

China Eximbank provides RMB 2.564 billion government concessional loan for Malabo City Water Supply Project On December 13, 2019, the Chinese Government and the Government of Equatorial Guinea signed a preferential loan framework agreement for the Malabo City Water Supply Project.

China Eximbank and the Government of Equatorial Guinea subsequently signed a government concessional loan (GCL) agreement for the Malabo City Water Supply Project. The estimated face value of the GCL is RMB 2.564 billion ($389.7 million).

📋 Loan / Grant Terms

💰 Loan Amountinclude a 20-year maturity

📅 Maturity20 years

⏳ Grace Period5 years

💹 Interest Rate2%

The proceeds of the GCL were to be used by the borrower to finance a $389.7 million (RMB 2.564 billion) commercial contract between the Government of Equatorial Guinea and Gezhuoba Group Co. Ltd. (CGGC), which was signed in April 2016. The original purpose of the project was to construct an urban water supply and pipe network in the city of Malabo.

CGGC is the contractor responsible for implementation. However, the Malabo City Water Supply Project has faced multiple delays and setbacks. The COVID-19 pandemic slowed implementation in 2020 and 2021.

Then, In January 2023, Vice President Teodoro Nguema Obiang Mangué summoned representatives from the Equatorial Guinea's Ministries of Public Works and Finance, as well as Geproyectos and CGGC, to discuss the importance of expediting project implementation; he also floated the idea of expanding the scope of the project to provide nationwide access to clean drinking water.

Then, in March 2023, Teodoro Nguema Obiang Mangué suggested rescoping the project to include electricity and water supply components. AidData had not identified any evidence of project implementation as of June 2023.

📋 Staff Comments

This project is also known as the Malabo Urban Water Supply and Pipe Network Project. The Chinese project title is 马拉博城市供水项目 or 赤道几内亚马拉博供水及管网项目. The Spanish project title is el proyecto de abastecimiento de agua y red de tuberías de Malabo or el proyecto de abastecimiento de agua potable en la ciudad de Malabo or El Proyecto de Aducción de Agua Potable de Malabo.
This source (https://ahoraeg.com/politica/2020/05/25/entrevista-a-la-embajadora-de-china-en-guinea-ecuatorial/) indicates that a China Eximbank loan agreement was finalized. However, the precise date on which the loan agreement was signed is unknown. This issue warrants further investigation.
The China Eximbank loan for the Malabo City Water Supply Project is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020. Nor is it included it in the China’s Overseas Development Finance Dataset that Boston University's Global Development Policy Center published in December 2020.

📚 Sources & References

水处理和环保
驻赤道几内亚大使亓玫与赤几财长姆巴签署马拉博城市供水项目优惠贷款框架协议, 2019年中赤几关系十大亮点
驻赤道几内亚大使亓玫在赤几政府官网发表署名文章《“一带一路”新起点，中赤几合作新征程》(2019-05-04)
驻赤道几内亚大使亓玫与赤几财长姆巴签署马拉博城市供水项目优惠贷款框架协议
中国进出口银行赤道几内亚马拉博市供水及管网工程咨询论证项目-成交公告
中国进出口银行赤道几内亚马拉博市供水及管网工程咨询论证项目-磋商公告
走进非洲｜进出口银行的赤道几内亚足迹, 2019年中赤几关系十大亮点
驻赤道几内亚大使亓玫与赤几财长姆巴签署马拉博城市供水项目优惠贷款框架协议
Entrevista a la Embajadora de China en Guinea Ecuatorial
El Embajador en China visita la empresa Gezhouba Group
转战赤道几内亚丨翻滚吧，中国建设者们
驻赤道几内亚大使亓玫接受赤几《现在》电子新闻网专访, [项目]葛洲坝一季度新签合同484亿元国际工程占全省八成
中国葛洲坝集团股份有限公司关于 2016 年第一季度新签合同公告
中国葛洲坝集团股份有限公司关于2016年第一季度新签合同公告
Reunión del Vicepresidente de la República para implementar el proyecto agua potable en todo el territorio nacional
S.E. Nguema Obiang Mangue y Frédéric Gauthier se felicitan por los resultados de la Escuela Naval de Tika
Chinese company CGGC contributes to safe environment in Malabo
S.E. Nguema Obiang Mangue ordena la reprogramación del proyecto de aducción de agua y energía
El Gobierno pretende extender el proyecto de abastecimiento de agua potable a todos los poblados, [Email correspondence with subject line 'Documentos que todavia faltan relacionados a prestamos externo'], [Email correspondence with subject line 'Informaciónes sobre Contratación de Deuda que todavia necesitamos recibir hasta manana (Lunes)']
Ministry of Finance of Equatorial Guinea's 2019 Borrowing Plan
INFORME DE LA MISION DE LA DELEGACION DEL MINISTERIO DE HACIENDA
ECONOMÍA Y PLANIFICACION A BEIJING (REPÚBLICA POPULAR DE CHINA) DEL 22 AL 28 DE JUNIO DEL PRESENTE 2.019 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 Equatorial Guinea

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