Active Development AidData Chinese Aid

ICBC provides EUR 39.02 million loan for Fatick Campus of University Sine Saloum El-Hadj Ibrahima Niass (USSEIN) Project

€39.02M EUR

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	Government of Senegal
Country	Senegal
Start Date	Mar 20, 2018
End Date	Sep 11, 2027
Duration	3,462 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`86733`

Grant Description

ICBC provides EUR 39.02 million loan for Fatick Campus of University Sine Saloum El-Hadj Ibrahima Niass (USSEIN) Project On March 20, 2018, the Industrial and Commercial Bank of China (ICBC) and the Government of Senegal signed a EUR 39,020,852 loan agreement for the Fatick Campus of University Sine Saloum El-Hadj Ibrahima Niass (USSEIN) Project.

📋 Loan / Grant Terms

💰 Loan Amountare as follows: a 7

📅 Maturity7.2499 years

⏳ Grace Period2.7499 years

💹 Interest Rate2.6001%

It is also known that the borrower was expected to use the loan proceeds to finance a commercial contract between Senegal’s Ministry of Education and China Machinery Engineering Corporation (CMEC).

The purpose of the project is to construct and equip the Fatick campus of the University Sine Saloum El-Hadj Ibrahima Niass (USSEIN). The campus will be equipped with instructional buildings, libraries, amphitheaters, dormitories, and canteens.

A university of agriculture, animal husbandry and fishery will also be built in Fatick and Kavlin, with the goal of improving education resources and promoting the economic development of Senegal's people through their talents in the aforementioned areas. China Machinery Engineering Corporation (CMEC) is the contractor responsible for project implementation.

A local company, OTIZIA, is also involved as a subcontractor. Construction began on July 1, 2019.

The launch was held by the Ministry of Higher Education and Research of Senegal and the CMEC Senegal University City Project Department and took place on the Fatick campus.

Sheikh Omar Hanna, Minister of Higher Education of Senegal, Zhang Xun, Chinese Ambassador to Senegal, Tong Zigang, Deputy General Manager of CMEC, Project Manager Qi Yanjun, Head of Fatick Region, and officials of relevant government departments attended the ceremony. Originally, the project was planned to reach completion by December 2020.

However, it was delayed by the COVID-19 pandemic. In 2021, construction continued but students protested the construction delays.

📋 Staff Comments

The French project title is Construction et équipement de l’Université Sine Saloum El Hadj Ibrahima NIASS USSEIN.
The project identification number in the Government of Senegal's Aid Management Platform (AMP) is 87274147916. See http://pgfe.finances.gouv.sn/TEMPLATE/reamp/modules/activity-preview/index.html#/activity/286893. According to the World Bank's Debtor Reporting System (DRS), the weighted average interest rate of all 'private' sector lending ($46,093,739.70) from all Chinese creditors to government and government-guaranteed borrowing institutions in Senegal was 2.6% in 2018 (see https://www.dropbox.com/scl/fi/mzozx0uhwj0vjynw9jd3t/Private-Chinese-Loans-to-Senegal-November-2023-DRS-Data-Extraction.xlsx?rlkey=zmqv4160fw94b8t45fembum08&dl=0). AidData estimates the interest rate of the China Eximbank loan that supported the Fatick Campus of University Sine Saloum El-Hadj Ibrahima Niass (USSEIN) Project by using this figure. This issue warrants further investigation.
According to the World Bank's Debtor Reporting System (DRS), the weighted average maturity of all 'private' sector lending ($46,093,739.70) from all Chinese creditors to government and government-guaranteed borrowing institutions in Senegal was 7.2499-years in 2018 (see https://www.dropbox.com/scl/fi/mzozx0uhwj0vjynw9jd3t/Private-Chinese-Loans-to-Senegal-November-2023-DRS-Data-Extraction.xlsx?rlkey=zmqv4160fw94b8t45fembum08&dl=0). AidData estimates the maturity of the China Eximbank loan that supported the Fatick Campus of University Sine Saloum El-Hadj Ibrahima Niass (USSEIN) Project by using this figure. This issue warrants further investigation.
According to the World Bank's Debtor Reporting System (DRS), the weighted average grace period of all 'private' sector lending ($46,093,739.70) from all Chinese creditors to government and government-guaranteed borrowing institutions in Senegal was 2.7499-years in 2018 (see https://www.dropbox.com/scl/fi/mzozx0uhwj0vjynw9jd3t/Private-Chinese-Loans-to-Senegal-November-2023-DRS-Data-Extraction.xlsx?rlkey=zmqv4160fw94b8t45fembum08&dl=0). AidData estimates the grace period of the China Eximbank loan that supported the Fatick Campus of University Sine Saloum El-Hadj Ibrahima Niass (USSEIN) Project by using this figure. This issue warrants further investigation.
The face value of the loan is recorded as $46,093,739.70 in the World Bank's Debtor Reporting System (DRS).

📚 Sources & References

General Budget
Rapport annuel de performance 2019
Allocution de S.E.M. ZHANG Xun lors de la visite technique sur le chantier de la Cité universitaire de Fatick
Senegal USSEIN University City Project Launch Ceremony
SAIS-CARI Loans China
USSEIN : les travaux du campus de Fatick lancés officiellement
USSEIN : RELANCE DES TRAVAUX DE CONSTRUCTION DU CAMPUS DE FATICK
State of infrastructure: Madam Rector visits the Fatick campus construction sites
MINISTERE DE L’ECONOMIE
DES FINANCES ET DU PLAN ----------- RAPPORT ANNUEL D’ACTIVITES EDITION 2018
RAPPORT TRIMESTRIEL D'EXECUTION BUDGETAIRE QUATRIEME TRIMESTRE 2018
RAPPORT TRIMESTRIEL D’EXECUTION BUDGETAIRE TROISIEME TRIMESTRE 2018
CONSTRUCTION UNIVERSITE DU SINE SALOUM EL HADJI IBRAHIMA NIASS
Construction Université du Sine Saloum El Hadji Ibrahima Niass Record June 2023
Private Chinese Loans to Senegal November 2023 DRS Data Extraction
December 2023 AMP Record for CONSTRUCTION UNIVERSITY OF SINE SALOUM EL HADJI IBRAHIMA NIASS pdf 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.