Project ID: 43031

China Development Bank signed $500 million credit agreement with Vnesheconombank (VEB)

Commitment amount

$ 651857507.1

Constant 2017 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.

Umbrella project

This project is classified as an "umbrella" project, and is connected to related projects.

Summary

Funding agency [Type]

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

Recipient

Russia

Sector

Other multisector (Code: 430)

Flow type

Loan

Concessional

Vague

Category

Intent

Development (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 year

2009

Description

On October 13, 2009, Russian Prime Minister Vladimir Putin visited Beijing for the Shanghai Cooperation Organisation (SCO). A $500 million credit agreement was signed between China Development Bank and Vnesheconombank (VEB) — Russia’s state-owned development bank — for joint projects in transport, infrastructure, construction, and mineral extraction. 34 other deals were signed between the two countries.

Number of official sources

0

Number of unofficial sources

4

Download the dataset

Details

Cofinanced

No

Receiving agencies [Type]

Vnesheconombank (VEB Bank) [State-owned Bank]

Loan type

No Information

Gurarantee provided

No

Insurance provided

No