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To date four Loan Agreements for financing road projects have been entered into by the GoTL and lenders. They are all for upgrading and strengthening arterial roads, these are:
a Road Network Upgrading Project RNUP of Dili-Liquica and Tibar-Gleno signed by GOTL and ADB in 2012.
b Road Upgrading Project of Dili-Baucau signed by GOTL and JICA in 2012. c Road Network Upgrading Project RNUSP of Manatuto-Natarbora signed by GOTL
and ADB in 2013. d Road Climate Resilience Project of Dili-Ainaro signed by GOTL and WB in November
2013.
a. Road Network Upgrading Projects of Dili-Liquica and Tibar-Gleno
The focus of this loan project is for upgrading the Dili-Liquica and Tibar-Gleno roads. The Dili-Liquica road is the road in the inter-urban network with the highest level of traffic in the
country. The Tibar-Gleno road is also important in that it is a main coffee export route and linkage between the north and south coasts. Two loans have been utilised from the Asian
Development Bank ADB: the first from the Ordinary Capital Resources OCR of 30.9 million and the second from the Asian Development Fund ADF of 9.2 million
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. OCR is a libor-based lending instrument with respective maturity and grace period of 32 years and 10
years.
Both loans have a grace period of five years and repayment period of 25 years. The rate of interest for the OCR is equal to LIBOR rate plus 0.4 per annum and for ADF is fixed at 2
per annum. The balance of the project cost of 57.0 million is for payment from the IF. The agreements were signed on 2 May 2012 and became effective on 13 June 2012. The works
contractors and supervision engineer mobilised in 2013 and on completion of the works in 2016 will continue to maintain the roads for a further two years.
Since the signing of the loan agreements, studies have shown that a realignment of the road section between Tacitolu and Tibar Bay will reduce the road length by 2 km and widening to
four lanes from throughout the section from Dili to the location of the Tibar Port will further increase the economic benefits to justify the additional cost of the works. An additional loan
from ADB has been agreed to contribute to the overall project cost. For 2015, a total budget of 17.5 million has been allocated to the roads mentioned above
projects.
b. Road Upgrading Project of Dili-Manatuto-Baucau
This section is an important road connecting three main cities in the north-east of the country. The road works will upgrade a total of 116 Km. The Loan Agreement with Japan International
Cooperation Agency JICA was signed in March 2012 and is for JpY 5,278 million with
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As the loans are denominated in Special Drawing Rights SDR the dollar values are subject to small variation.
