Chinese Government provides $4.89 million grant for provision of Y-12 aircraft as part of 'buy two get one free' deal (Linked to Record ID#39256)

Project narrative

In March 2007, China Eximbank agreed to provide an RMB 68 million ($9.78 million) preferential buyer's credit to the Government of Vanuatu to purchase 2 Y-12 aircraft for the national carrier, Air Vanuatu, as part of a 'buy two get one' deal. Then, on December 18, 2008, Vanuatu Prime Minister mentioned in a speech that the Chinese Government would donate and deliver a Y-12 Aircraft by early 2009. The reported monetary value of the donated aircraft is $4.89 million. In January 2009, the Chinese delegation handed over the airworthiness certificate of the donated aircraft to the Vanuatu Government. Record ID#39256 captures the preferential buyer's credit from China Eximbank for Vanuatu's purchase of two Y-12 aircraft, which were handed over on December 18, 2008.