Project ID: 43028

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

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

2006-03-21

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

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Details

Cofinanced

No

Direct receiving agencies [Type]

VTB Bank [State-owned Bank]

Implementing agencies [Type]

Inteko [Private Sector]

Loan Details

Maturity

8 years

Bilateral loan

Inter-bank loan

Investment project loan