China Eximbank provides $10.5 million USD loan for Drilling of 150 Wells Project
Commitment amount
$ 22787450.170948565
Adjusted commitment amount
$ 22787450.17
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Sudan
Sector
Water supply and sanitation (Code: 140)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
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.
Additional details
Two sources identify 'Tiangin Company' as the implementing organization, which is likely a misspelling of 'Tianjin.’
Number of official sources
6
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Sudan [Government Agency]
Implementing agencies [Type]
Tianjin Construction Engineering Group (Holding) Co., Ltd. [State-owned Company]
Loan Details
Maturity
8 years
Interest rate
4.0%
Grace period
2 years
Grant element (OECD Grant-Equiv)
18.6429%