Project ID: 33260

China Eximbank provides $38.6 million export buyer's credit loan for Supply of 15 Diesel Multiple Units (DMUs) Project

Commitment amount

$ 60401982.41

Constant 2017 USD

Summary

Funding agency [Type]

Export-Import Bank of China [State-owned Policy Bank]

Recipient

Sri Lanka

Sector

Transport and storage (Code: 210)

Flow type

Export Buyer's Credit

Concessional

Vague

Category

Intent

Mixed (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

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2007

Geography

Description

On May 15, 2007, China Eximbank and the Government of Sri Lanka signed a $38,683,633 buyer's loan agreement for the Supply of 15 Diesel Multiple Units (DMUs) Project. This loan carried a 2% interest rate, but its maturity and grace period are unknown. The purpose of this project was to facilitate the acquisition of 15 diesel multiple units (power train sets) to Sri Lanka Railways. China National Machinery Import and Export Corporation (CMC) was responsible for supplying the power train sets to Sri Lanka Railways. The supplier of the power train sets was Hubei Machinery and Equipment Import-Export Company. This project was part of a broader effort to modernize the Sri Lankan Railway system and reduce inconvenience caused to commuters traveling from Colombo to the suburban areas and on the Kelani Valley route. The first 3 power train sets were scheduled to reach Colombo by August 2008, and the other 12 power train sets were to be delivered in two batches of 6 in September 2008 and December 2008. This project was successfully completed in 2009.

Additional details

In 2007, the Chinese Government also committed a loan for the provision of 100 carriages to the Government of Sri Lanka (see Project ID #33275), and it committed another loan in 2010 for the provision of an additional 13 diesel multiple units (see Project ID #49343).

Number of official sources

9

Number of unofficial sources

6

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Sri Lanka [Government Agency]

Implementing agencies [Type]

China National Machinery and Equipment Import & Export Corporation [State-owned Company]; Hubei Machinery and Equipment Import-Export Company [No Organization Type Specified]

Loan type

Some Information

Interest rate

2.0%

Gurarantee provided

No

Insurance provided

No