Project ID: 39923

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

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2001-11-03

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

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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%

Bilateral loan

Inter-bank loan

Investment project loan