CNMIEC provides $188.1 million supplier’s credit for 2x125 MW Barapukuria Coal-Fired Power Plant Project (Linked to Record ID#34237 and #52735)

Project narrative

On June 30, 2001, China National Machinery Import and Export Corporation (CMC) provided a $188.1 million supplier’s credit to the Government of Bangladesh for the 2x125 MW Barapukuria Coal-Fired Power Plant Project. The supplier’s credit carried the following terms: a 15-year maturity, a 3-year grace period, and a 3.5% interest rate. The Government of Bangladesh issued a sovereign guarantee for this loan on September 8, 2002. CMC secured the funding to provide the supplier’s credit from an export seller’s credit from China Eximbank. According to the Government of Bangladesh’s Economic Relations Division (ERD), the supplier’s credit had achieved a 99.9% disbursement rate ($187.92 million out of $188.1 million) and $124.126 million had been repaid to the creditor as of June 30, 2014, June 30, 2018, and June 30, 2021. The purpose of the project was to build a 2x125 MW coal-fired power plant in Barapukuria. CMC was the contractor responsible for project implementation. Construction began in November 2002. The first power generation unit was successfully put into operation in mid-November 2005, and the second power generation unit was put into operation in 2006. The project was ultimately completed by March 27, 2006.