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China Eximbank pledges loan for South Santo Road Rehabilitation Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Vanuatu |
| Country | Vanuatu |
| Start Date | Jan 01, 2015 |
| End Date | Apr 28, 2029 |
| Duration | 5,231 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 37752 |
Grant Description
China Eximbank pledges loan for South Santo Road Rehabilitation Project As of 2015, the China Exim Bank had proposed the Santo South Coast Road Rehabilitation (or South Santo Road Rehabilitation Project). An economic assessment was performed in November 2013.
If approved, the investment value, or loan amount, according to page xi of the Vanuatu Strategic Plan, is $25.6 million and would be between China Exim Bank and the Vanuatu Ministry of Infrastructure and Public Utilities (MIPU). Due to lack of local funding, the China aid was on hold and had not yet been committed.
Based on the 'Vanuatu Economic Assessment' of the Project in 2014 by the Vanuatu Ministry of Finance and Economic Management, the infrastructure project is estimated to be worth US$146 million total.
Construction will be carried out by China Railway First Group; work is scheduled to commence on July 1, 2014, and end on June 30, 2018.
According to the Strategic Plan, the project would involve rehabilitating 71km of road between Luganville and Tassiriki, 22km of feeder roads on the South Coast, and rebuilding 10 bridges. This project was ultimately funded by the World Bank.
Sources & References
- Island state seeks development partners
- South Santo Road still under review
- VANUATU ECONOMIC ASSESSMENT OF THE SOUTH SANTO ROAD REHABILITATION PROJECT
- Vanuatu Infrastructure Strategic Investment Plan 2015 – 2024
- ECONOMIC ASSESEMENT FOR SOUTH SANTO ROAD (CANAL TO TASSIRIKI) PROJECT (NOVEMBER 2013)
- Vanuatu
- Breaking Ground for Package 1 of the South Santo Road Project in Vanuatu!
- Groundbreaking for first phase of South Santo Road Project tomorrow
- Package 1 blong Vanuatu Climate Resilient Transport Project 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.
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Government of Vanuatu
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