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Overview

China Eximbank provides RMB 325.87 million government concessional loan for 65MW Minsk Thermal Power Plant (TPP) No. 2 Reconstruction Project

Commitments (Constant USD, 2023)$71,185,728
Commitment Year•2007Country of Activity•BelarusDirect Recipient Country of Incorporation•BelarusSector•EnergyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 16, 2007
End (actual)
Jun 30, 2011
Last repayment (originally scheduled)
Dec 28, 2021

Geospatial footprint

Map overview

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This project involved the renovation of the Thermal Power Plant (TPP) No. 2 in the city of Minsk. More detailed locational information can be found at https://www.openstreetmap.org/relation/6568179.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

  • Government of Belarus

Implementing agencies

State-owned companies

  • China National Corporation for Overseas Economic Cooperation (CCOEC)

Loan desecription

China Eximbank provides RMB 325.87 million government concessional loan for 65MW Minsk Thermal Power Plant (TPP) No. 2 Reconstruction Project

Grant element•32.2131%Interest rate (t₀)•3%Interest type•Fixed Interest RateMaturity•15 years

Narrative

Full Description

Project narrative

On July 16, 2007, China Eximbank and the Government of the Republic of Belarus — represented by the Ministry of Finance of Belarus — signed an RMB 325.87 million government concessional loan (GCL) agreement [CHINA EXIMBANK No. GCL (2007) 022 (193)] for the 65MW Minsk Thermal Power Plant (TPP) No. 2 Reconstruction Project. The GCL carried a 3% interest rate and 15 year maturity. The proceeds of the GCL were to be used by the borrower to finance a commercial contract with China National Corporation for Overseas Economic Cooperation (CCOEC), which was signed in January 2007. The loan was to be serviced by Belpromstroybank. This project involved the installation of two steam gas blocks — with 32.5 MW of power generation capacity — in order to renovate TPP No. 2 in the city of Minsk. CCOEC and Minskenergo RUE (a Belarusian state-owned power company) were responsible for implementation. The project commenced in 2007 and the renovated plant was put into operation on June 30, 2011.

Staff comments

This project is also known as the Minsk CHP Plant No. 2 Reconstruction Project and the Minsk TPP-2 Reconstruction Project. The Russian project title is Модернизация Минской ТЭЦ-2 or Реконструкция Минской ТЭЦ-2 or Минские тепловые сети ТЭЦ-2. The Chinese project title is 明斯克2号热电站改造项目 or 白俄罗斯明斯克2号热电站改造项目. The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020.