Overview

China Eximbank provides $400 million general loan agreement to Thai Ministry of Finance

Commitments (Constant USD, 2023)$664,625,814

Commitment Year•2007Country of Activity•ThailandDirect Recipient Country of Incorporation•ThailandSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Oct 22, 2007

First repayment: Dec 31, 2011

Last repayment: Dec 28, 2021

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

Thailand Ministry of Finance

Loan desecription

China Eximbank provides $400 million general loan agreement to Thai Ministry of Finance

Grace period•5 yearsGrant element•41.4363%Interest rate (t₀)•3%Interest type•Fixed Interest RateMaturity•15 years

Narrative

Full Description

Project narrative

On October 22, 2007, the Ministry of Finance of the Kingdom of Thailand and China Eximbank signed a $400 million general loan agreement. Under the terms of the agreement, the lender agreed to issue individual (subsidiary) loan agreements (ILAs) as preferential buyer's credits (PBC) that would cover up to 85% of the cost of commercial contracts with Chinese companies for specific investment projects in Thailand. The agreement specified that the ILAs would carry the following borrowing terms: a 3% fixed interest rate, a 15-year maturity, a 5-year grace period, a 0.5% management fee, and a 0.5% commitment fee.

Staff comments

1. The October 2007 general loan agreement between China Eximbank and the Thai Ministry of Finance can be accessed in its entirety via https://www.dropbox.com/scl/fi/pvj5rff74ejm5yoyme4rj/Thailand-2007-China-Eximbank-Preferential-Buyer-s-Credit-Agreement.pdf?rlkey=aadta4i2bqkh8381n4h28ruyz&dl=0.