Chinese Eximbank signed MOU for $55mil loan with Russia’s Vneshtorgbank (Linked to #40503)
Pledged amount
$ 111757199.6891187
Adjusted pledged amount
$ 111757199.6891187
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
Kazakhstan
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
Yes
Category
Project lifecycle
Description
On March 21, 2006, Russia’s Vneshtorgbank and the Chinese Exim bank signed a MoU on the financing of the construction of the Moskva business center in Astana (Kazakhstan). China committed to grant a $55 million loan for eight years. This loan is being drawn from a previous framework credit contract signed between the two banks in December 2002 (see Project ID#40503). The deal is the first for Vneshtorgbank project with a Chinese financial institution to grant credits for projects outside China or Russia. The construction was conducted by Inteko, the company owned by Russian philanthropist Elena Baturina. On July 4, 2010, the completion ceremony for construction on the Moskva Business center was held. The building has 25 floors, and is the largest business center in Kazakhstan's capital city of Astana
Additional details
No evidence of the transaction actually occurring between the MoU and the completion ceremony
Number of official sources
0
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
VTB Bank [State-owned Bank]
Implementing agencies [Type]
Inteko [Private Sector]
Loan Details
Maturity
8 years