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ICBC provides EUR 131 million loan for House of United Nations Organization (UNO) Project
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | Société Envol Partenariats SA |
| Country | Senegal |
| Start Date | Jun 27, 2019 |
| End Date | Aug 18, 2029 |
| Duration | 3,705 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 97862 |
Grant Description
ICBC provides EUR 131 million loan for House of United Nations Organization (UNO) Project On June 27, 2019, the Industrial and Commercial Bank of China (ICBC) signed an EUR 131 million loan agreement with Société Envol Partenariats SA (塞内加尔恩沃合资股份有限公司) for the House of United Nations Organization (UNO) Project.
Then, on August 16, 2019, the Government of Senegal issued a sovereign guarantee in support of the ICBC loan.
However, it is known that the borrower was expected to use the proceeds of the loan to partially finance a commercial contract with Weihai International Economic & Technical Cooperative Co., Ltd. It is also known that the loan was supported by a Sinosure credit insurance policy.
The purpose of the House of United Nations Organization (UNO) Project — a public-private partnership between the Government of Senegal and Envol Partenariats Senegal — is to construct the United Nations House in the Diamniadio district of Dakar, adjacent to the Senegal Sports City Project.
The building sits on a 14 hectare site and it consists of ‘six wings distributed in propellers.’ Each wing of United Nations House is reminiscent of the blades of a wheel or the rays of the sun. The building occupies an area of 60,000 m2, including 40,000 m2 of offices and 1814 workstations.
It has a 500-seat amphitheater hall, several seminar rooms, a restaurant, a travel agency, shops, a sports hall, an officials' room, and a bank. Part of the building is powered by photovoltaic panels.
Upon completion, it is expected that the facility will house thousands of employees who work for 32 United Nations agencies. Weihai International Economic & Technical Cooperative Co., Ltd. is the contractor responsible for implementation. A formal groundbreaking ceremony took place on April 25, 2018.
However, construction did not begin until April 2019.
Then, on July 15, 2021, the building was ‘successfully topped out’ (after the last bucket of concrete was poured into the roof of the R+7 floor in Area 2 of Building C). The UN Secretary General conducted a project site inspection on May 1, 2022. The project was originally scheduled to reach completion by the end of June 2022.
On November 23, 2023, the housing complex was inaugurated.
Staff Comments
- This project is also known as the United Nations Building Project and the United Nations West Africa Office Building Project. The Chinese project title is 塞内加尔联合国西非办公楼项目. The French project title is Le projet de Cité des Nations Unies de Diamniadio.
- DLA Piper served as legal counsel for the transaction.
- The loan agreement is referred to in Chinese as 《塞内加尔联合国办公楼项目贷款协议》4. One source (http://wietc.com/news/show-1370.aspx) suggest that Société Envol Partenariats SA is a joint venture. This issue warrants further investigation.
- This loan is not included in the SAIS-CARI database of Chinese loan commitments that was released in 2020 and re-released in 2021.
Sources & References
- Boubacar Diakité Profile
- Infrastructure
- Construction, and Transportation
- 塞内加尔联合国西非办公楼项目开工
- 联合国秘书长古特雷斯视察中企承建的联合国西非办公楼项目
- 金磨石案例：联合国秘书长古特雷斯视察中国企业承建的联合国西非办公楼项目
- 联合国秘书长古特雷斯视察中企承建的联合国西非办公楼项目
- The basement of the Weihai International Senegal United Nations Organization in West Africa office building project was capped ahead of schedule
- Senegalese Foreign Minister Visits UN Office Building Construction Site
- United Nations House Project in Senegal Topped Out
- United Nations House
- Senegal
- United Nations House
- Senegal Project Sheet
- Madani Maki TALL
- PCA of Envol Immobilier Senegal: “The time of African expertise”
- Envol Immobilier - Envol City
- MAISON DES NATIONS UNIES DIAMNIADIO SÉNÉGAL
- Brochure Envol
- DÉCRET N° 2019-1316 DU 21 AOÛT 2019 APPROUVANT LA CONVENTION DU 16 AOÛT 2019 ACCORDANT UNE GARANTIE À LA BANQUE ICBC DANS LE CADRE DE LA CONVENTION DE CRÉDIT LA LIANT À LA SOCIÉTÉ ENVOL PARTENARIATS SA, [JuriAfrica Search Results]
- 塞内加尔联合国办公楼项目贷款协议正式签署
- Sénégal : inauguration de la Maison des Nations unies à Diamniadio
- 中国信保持续推动中非经贸合作
- Sénégal : à Diamniadio, le calvaire des travailleurs étrangers 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
Société Envol Partenariats SA
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