China Eximbank provides RMB 100 million loan for acquisition of 2500 tractors
Commitment amount
$ 30379273.35034606
Adjusted commitment amount
$ 30379273.35
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Uzbekistan
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Central government-guaranteed debt
Infrastructure
No
Category
Project lifecycle
Description
On November 3, 2001, China Eximbank and Pakhtabank OJSC signed a an RMB 100 million loan agreement for the purchase of 2,500 Chinese-made tractors. The loan carried the following terms: 10 year maturity, 3 year grace period, and 4% interest rate. Pakhtabank OJSC is a commercial agricultural bank that primarily lends to farmers. The Government of Uzbekistan provided a sovereign guarantee for this loan. The tractors will were to be produced by from Zhongce Tractor and Motor Vehicle Co. Ltd and delivered by Tianjin Machinery Import & Export Corporation to Tashkent Tractor Plant Joint Stock Company.
Additional details
The Russian project title is "проекта сборочного производства мини-тракторов". Pakhtabank OJSC may have on-lent the proceeds of the China Eximbank loan to Tashkent Tractor Plant Joint Stock Company (or ГАО “Ташкентский тракторный завод”).
Number of official sources
3
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
Pakhtabank OJSC, Private Bank [Private Sector]
Implementing agencies [Type]
Pakhtabank OJSC, Private Bank [Private Sector]
Tianjin Machinery Import and Export Corporation (Group) [State-owned Company]
Guarantee provider [Type]
Government of Uzbekistan [Government Agency]
Loan Details
Maturity
10 years
Interest rate
4.0%
Grace period
3 years
Grant element (OECD Grant-Equiv)
14.6107%