Project ID: 42612

China pledges a $300 million loan to Romania for construction of bridge over Danube River

Pledged amount

$ 749836470.6010952

Adjusted pledged amount

$ 749836470.6010952

Constant 2021 USD

Not recommended for aggregates

This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.

Summary

Funding agency [Type]

Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]

Recipient

Romania

Sector

Industry, mining, construction (Code: 320)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (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: Pledge (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2002-01-01

Description

In 2002, China's Exim Bank, Sinosure, and the China Development Bank pledged a $300 million loan to Romania for the construction of a bridge over the Danube river near Braila. Construction for the 990-meter bridge was contracted to China Road and Bridge Corporation, which expected to begin work in late 2004. Construction was estimated to be finished in 3 years. It seems as though construction never began and in 2018, Astaldi, an Italian construction company, and IHI Infrastructure Systems Co. Ltd., a Japanese company, began construction on the bridge. No evidence for Chinese financing can be found. As of 2022, the bridge began construction and is being funded by the European Union's Operational Program for Large-Scale Infrastructure (POIM).

Number of official sources

2

Number of total sources

11

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Details

Cofinanced

Yes

Cofinancing agencies [Type]

China Development Bank (CDB) [State-owned Policy Bank]

Direct receiving agencies [Type]

Government of Romania [Government Agency]

Implementing agencies [Type]

China Road & Bridge Corporation (CRBC) [State-owned Company]

Government of Romania [Government Agency]

Loan Details

Bilateral loan