China Development Bank to provide $5 billion USD loan for railway and port infrastructure
Pledged amount
$ 4858309351.0
Constant 2017 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Umbrella project
This project is classified as an "umbrella" project, and is connected to related projects.
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
South Africa
Sector
Transport and storage (Code: 210)
Flow type
Loan
Concessional
Vague
Category
Project lifecycle
Description
In the spring of 2015, after the fifth BRICS Summit hosted in Durban, South Africa, China Development Bank signed to provide a $5 billion USD 5-year loan to South African state-owned company Transnet. The loan will support a railway and port infrastructure rehabilitation program. This railway program is estimated to cost US 33.82 billion USD and is to take place over 7 years. The deal also covers non-financial cooperation on local manufacturing of equipment and cooperation on developmental infrastructure projects.
Number of official sources
1
Number of unofficial sources
10
Details
Cofinanced
No
Receiving agencies [Type]
Transnet [State-owned Company]
Implementing agencies [Type]
Transnet [State-owned Company]
Loan type
No Information
Gurarantee provided
No
Insurance provided
No