Project ID: 30170

Crude oil supply for export credits

Not recommended for aggregates

This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.

Summary

Funding agency [Type]

Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]

Recipient

Equatorial Guinea

Sector

Industry, mining, construction (Code: 320)

Flow type

Loan

Level of public liability

Unallocable

Infrastructure

Yes

Category

Intent

Commercial (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

Pipeline: Pledge (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2012-07-13

Description

On July 13, 2012, Equatorial Guinea and Sinochem signed a preliminary agreement to export 11,000 barrels of oil per day in exchange for credit from the China Exim Bank. Gabriel Obiang Lima, Guinea's Minister of Mines, Industry, and Energy said that the credit would be used to electrify more cities and to complete the second construction phase of an industrial port.

Number of official sources

0

Number of total sources

2

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Details

Cofinanced

No

Implementing agencies [Type]

Sinochem Corporation [State-owned Company]

Loan Details

Bilateral loan

Export buyer's credit

Investment project loan