Overview

China Eximbank provides $10.5 million USD loan for Drilling of 150 Wells Project

Commitments (Constant USD, 2023)$21,045,470

Commitment Year•2005Country of Activity•SudanDirect Recipient Country of Incorporation•SudanSector•Water Supply And SanitationFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Apr 1, 2005

First repayment (originally scheduled): Jan 1, 2007

Last repayment (originally scheduled): Dec 30, 2012

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 Sudan

Implementing agencies

State-owned companies

Tianjin Construction Engineering Group (Holding) Co., Ltd.

Loan description

China Eximbank provides $10.5 million USD loan for Drilling of 150 Wells Project

Grace period•2 yearsGrant element•21.7893%Interest rate (t₀)•4%Interest type•Fixed Interest RateMaturity•8 years

Narrative

Full Description

Project narrative

In April 2005, China Eximbank and the Government of Sudan signed a $10.5 million USD loan agreement for the Drilling of 150 Wells Project. The loan terms are as follows: 8-year maturity, 2-year grace period, and 4% interest rate. The project involved the acquisition of spare parts and equipment needed to drill 150 water wells in Sudan. The implementation status of this project is unknown. However, on 14 April 2008, China’s Ministry of Commerce reported that Tianjin North China Construction Engineering Co., Ltd (天津华北建设工程有限公司) was implementing a well-drilling project in Darfur.

Staff comments

Two sources identify 'Tiangin Company' as the implementing organization, which is likely a misspelling of 'Tianjin.’