Chinese Government provides $4.89 million grant for provision of Y-12 aircraft as part of 'buy two get one free' deal (Linked to Project ID#39256)
Commitment amount
$ 8798402.832303248
Adjusted commitment amount
$ 8798402.83
Constant 2021 USD
Summary
Funding agency [Type]
Unspecified Chinese Government Institution [Government Agency]
Recipient
Vanuatu
Sector
Transport and storage (Code: 210)
Flow type
Grant
Infrastructure
No
Category
Project lifecycle
Description
In March 2007, China Eximbank agreed to provide 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. Project 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.
Number of official sources
8
Number of total sources
16
Details
Cofinanced
No
Direct receiving agencies [Type]
Air Vanuatu (Operations) Limited [State-owned Company]
Vanuatu Ministry of Finance and Economic Management [Government Agency]
Implementing agencies [Type]
China National Aero-Technology Import & Export Corporation (CATIC) [State-owned Company]
Government of Vanuatu [Government Agency]