Project ID: 1052

China Eximbank provides $24 million USD buyer’s credit loan for Dali and Mazmoom Water Supply Project (Linked to Umbrella #57039)

Commitment amount

$ 24656116.37

Constant 2017 USD

Summary

Funding agency [Type]

Export-Import Bank of China [State-owned Policy Bank]

Recipient

Sudan

Sector

Water supply and sanitation (Code: 140)

Flow type

Export Buyer's Credit

Concessional

No

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2010

Completion

2012

2012-06-19

Actual

Geography

Description

On 29 July 2008, China Eximbank and the Government of Sudan signed a $3 billion USD oil-backed master framework agreement (or line of credit) to finance various infrastructure projects (see Umbrella Project ID#57039). This resources-credit cooperation package is backed by future revenues from the sale of oil exports. Each subsidiary buyer’s credit loan (BCL) issued through the framework agreement carries a 15-year maturity and 5.6% interest rate.One of the subsidiary loans approved through this agreement in 2010 was a $20.4 million USD BCL for the Dali and Mazmoom Water Supply Project. The proceeds from this BCL were used to finance 85% of the $24 million USD commercial contract signed on 4 November 2009 with China CAMC Engineering Co., Ltd.. This project involved the construction of 140 km of water transmission pipelines, and the comprehensive survey, design, equipment supply, site installation, civil construction, acceptance and commissioning of a water treatment plant in the hamlet of Dali (دل) within Central Darfur State and a water treatment plant in the city of Mazmoom (or Al Mazmun or المزموم) within Sennar State. These plants have a daily water treatment capacity of 20,000 m3 and 7,000 m3, respectively. On 1 July 2009, the Mazmoom Water Supply Sub-Project was completed. The Dali Water Supply Sub-project was officially completed on 19 June 2012.

Additional details

This project is also known as the Daly and Mazmoum Water Supply Project. The Chinese project title is 苏丹达利和马兹穆供水项目 and 苏丹达利和马兹穆供水项目.None of these sources explicitly say that this BCL is worth $20.4 million USD. In fact, SAIS-CARI's Chinese Loans to Africa Database records this BCL's face value as $24 million USD. However, the Chinese Embassy in Sudan (source ID 12870) reported that $24 million USD is actually the value of the commercial contract with CAMC-- not the loan. China Eximbank's BCLs typically cover 85% of the commercial contract cost, so AidData codes $20.4 million USD (=24*0.85) as the transaction amount. Some of the other subsidiary loans derived from the master loan facility captured in Umbrella Project #57093 cover 90% of the commercial contract, but there is no evidence of the same case for this Project #1052. Therefore, AidData will stick with the 85% estimate.

Number of official sources

9

Number of unofficial sources

3

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Sudan [Government Agency]

Implementing agencies [Type]

China CAMC Engineering Co., Ltd. (CAMCE) [State-owned Company]; Sudan Ministry of Water Resources, Irrigation and Electricity [Government Agency]

Loan type

Non-Concessional

Maturity

15 years

Interest rate

5.6%

Grant element

19.82670511%

Gurarantee provided

No

Insurance provided

No

Collateralized/securitized

Yes

Collateral

Future revenues from the sale of oil exports