China Eximbank provides $52 million preferential buyer’s credit for Phase 1 of Sreng Water Basin Development Project (Linked to Project ID#62150)

On May 9, 2011, China Eximbank and the Government of Cambodia signed a $52,045,000 preferential buyer’s credit (PBC) agreement for Phase 1 of the Sreng River Basin Water Resources Development Project. Cambodia's Minister of Economy and Finance Keat Chhon and China Eximbank’s Deputy President Zhu Hongje signed the agreement. The borrowing terms of the PBC were as follows: 20-year maturity, 7-year grace period, and 2% interest rate. The proceeds of the PBC were used to partially finance a $67 million EPC (commercial) contract between Cambodia’s Ministry of Water Resources and Meteorology, Sinohydro Bureau 8 Co., Ltd., and Guangzhou Wanan Construction Supervision Company, which was signed on December 13, 2010. The purpose of this project was to increase the supply of irrigated water to Oddar Meanchey, Siem Reap, and Banteay Meanchey provinces in northwest Cambodia. It involved the construction of 2 main irrigation systems with a total length of 81.29 kilometers, 18 tributary irrigation systems with a total length of 93.4 kilometers, 2 drainage canals, and 12 sluices. Upon completion, it was expected that the project would be able to cover 25,000 hectares of farmland in the rainy season and 3,750 hectares in the dry season. Sinohydro Corporation Engineering Bureau 15 Co., Ltd. was the contractor responsible for project implementation. The project was supervised by Guangzhou Wanan Construction Supervision Company. It commenced on September 9, 2011 and was officially completed and handed over to the local authorities on April 7, 2015. The project was originally expected to take 36 months to complete.

Additional details

1. The Chinese project title is 柬埔寨斯伦河流域水利开发工程（一期）or 柬埔寨斯伦河一期水利工程 or 斯伦河流域水利开发项目 or 斯伦河水利工程(一期)位. 2. The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020. 3. China Eximbank also provided a loan for Phase 2 of the Sreng Water Basin Development Project (captured in Project ID#62150).

Number of official sources

13

Number of total sources

16