China Development Bank provides $1.859 million for technical study related to hydroelectric power plant construction on the Magdalena River (Linked to Project ID#39423 and #69470)
Commitment amount
$ 2792236.6797428387
Adjusted commitment amount
$ 2792236.68
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Colombia
Sector
Energy (Code: 230)
Flow type
Vague TBD
Infrastructure
No
Category
Project lifecycle
Geography
Description
On February 17, 2009 an agreement was signed between the Chinese Government and Government of Colombia, the recipient of the transaction, for the implementation of a 'Master Plan' to conduct a technical study related to the construction of hydroelectric power plants on the Magdalena River. The overall study cost was $6.428 million, and the Chinese side provided $5.718 million USD. $3.859 million was provided by HydroChina while China Development Bank supplied $1.859 million. Cormagdalena -- a Colombian Government agency -- covered the remaining $700,000. HydroChina started the study in 2011 and completed it in 2013. However, in August 2014, the larger construction work was awarded to Odebrecht, a Brazilian company.
Additional details
HydroChina's contribution is captured in Project ID #39423.
Number of official sources
6
Number of total sources
14
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Corporación Autónoma Regional del Río Grande de la Magdalena (Cormagdalena) [Government Agency]
Hydrochina Corporation Limited [State-owned Company]
Direct receiving agencies [Type]
Government of Colombia [Government Agency]