Overview

China Eximbank provides RMB 100 million loan for acquisition of 2500 tractors

Commitments (Constant USD, 2023)$28,059,440

Commitment Year•2001Country of Activity•UzbekistanDirect Recipient Country of Incorporation•AzerbaijanSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 3, 2001

First repayment (originally scheduled): Jan 1, 2004

Last repayment (originally scheduled): Dec 30, 2010

Stakeholders

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

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Private Sector

Pakhtabank OJSC (PASHA Bank)

Implementing agencies

Private Sector

Pakhtabank OJSC (PASHA Bank)

State-owned companies

Tianjin Machinery Import and Export Corporation (Group)

Guarantors

Government Agencies

Government of Uzbekistan

Loan description

China Eximbank provides RMB 100 million loan for acquisition of 2500 tractors

Grace period•3 yearsGrant element•26.5793%Interest rate (t₀)•4%Interest type•Fixed Interest RateMaturity•10 years

Narrative

Full Description

Project narrative

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.

Staff comments

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”).