China Eximbank provides $38.6 million export buyer's credit loan for Supply of 15 Diesel Multiple Units (DMUs) Project
Constant 2017 USD
Funding agency [Type]
Export-Import Bank of China [State-owned Policy Bank]
Transport and storage (Code: 210)
Export Buyer's Credit
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.
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
Number of unofficial sources
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]