Overview

China Eximbank pledges to finance agricultural mechanization efforts in Nigeria

Commitment Year•2004Country of Activity•NigeriaDirect Recipient Country of Incorporation•NigeriaSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Sep 1, 2004

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 Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

Government of Nigeria

Implementing agencies

Government Agencies

Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)

State-owned companies

Zhejiang Sifang Group Corporation

Loan desecription

China Eximbank pledges to finance agricultural mechanization efforts in Nigeria

Interest type•Unknown

Narrative

Full Description

Project narrative

In September 2004, the Zhejiang Sifang Group Corporation signed an MOU with the Government of Nigeria to mobilize funds from China Eximbank for comprehensive mechanization of the farming methods used by peasant farmers. Nigeria’s Minister of Agriculture, Bamidele Dada signed the MOU on behalf of his ministry. Mrs. Modupe Adelaja signed on behalf of the Small and Medium Enterprises Development Agency of Nigeria. Mr. Lin Guangping signed on behalf of the Zhejiang Sifang Group Corporation. The status of the project is unknown.