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Overview

ICBC provides $500 million loan for National Grid Expansion Project in Laos

Commitments (Constant USD, 2023)$518,993,745
Commitment Year•2019Country of Activity•Lao People's Democratic RepublicDirect Recipient Country of Incorporation•Lao People's Democratic RepublicSector•EnergyFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2019

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

State-owned companies

  • EDL-Generation Public Company

Loan description

ICBC provides $500 million loan for National Grid Expansion Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2019, EDL-Generation Public Company signed a $500 million loan agreement with the Industrial and Commercial Bank of China (ICBC) for the National Grid Expansion Project. The borrowing terms of the loan are unknown. As of June 2024, AidData had not identified any evidence of the loan disbursing or the project commencing.

Staff comments

1. Électricité du Laos (EDL) is the state corporation of Laos that owns and operates the country's electricity generation, electricity transmission, and electricity distribution assets. The company also manages the import and export of electricity from the national electricity grid of the country. EDL-Generation Company Limited (EDL-Gen) was incorporated in 2010 and operates as a subsidiary of Electricité du Laos. 2. One source refers to the $500 million loan as a project finance facility, which suggests that EDL-Generation Public Company may be a shareholder of the borrowing institution rather than the borrowing institution itself. This issue warrants further investigation. 3. Rajah & Tann -- a Singaporean law firm -- advised on the transaction.