China Eximbank provides RMB 160 million government concessional loan for Minibuses for Senbus and Bus Assembly Production Project
Commitment amount
$ 32919682.711445704
Adjusted commitment amount
$ 32919682.71
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Senegal
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
On February 13, 2010, China Eximbank and the Government of Senegal signed a government concessional loan (GCL) agreement [China EXIMBANK GCL No. 1 (2009) Total No. (252)] worth RMB 160 million ($34 million) for the Minibuses for Senbus and Bus Assembly Production Project. The terms of the GCL are unknown. With the proceeds from the loan, Xiamen King Long United Automotive Industry (or “King Long”) and Senbus Industries created a factory in Thiès for the assembly of 406 King Long buses, including 4 buses and 402 minibuses. The factory was inaugurated and November 4, 2009 and an initial batch of 150 King Long city buses (produced by the Senegalese factory) were successfully delivered on October 5, 2010. King Long also provided technical assistance by sending 24 technicians to Senegal.
Additional details
1. The Chinese project title is 金龙客车项目 or 406辆金龙公交车项目.
Number of official sources
18
Number of total sources
34
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Senegal [Government Agency]
Implementing agencies [Type]
Senbus Industries [Private Sector]
Xiamen King Long United Automotive Industry Co., Ltd. [State-owned Company]