China Eximbank provides $3.7 million loan for Drilling of 50 Wells in North Kordofan Project
Commitment amount
$ 8029863.393572353
Adjusted commitment amount
$ 8029863.39
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
Yes
Category
Project lifecycle
Geography
Description
On June 20, 2005, China Eximbank and the Government of Sudan signed a $3.7 million loan agreement for the Drilling of 50 Wells in North Kordofan Project. This loan carried the following borrowing terms: a 9-year maturity, a 1-year grace period, and a 4% interest rate. The. project involved the drilling of 50 water wells (boreholes) in North Kordofan State. A Chinese company associated with Tianjin Huakan Company was the contractor responsible for project implementation. The implementation status of the project is unknown.
Additional details
1. A publication entitled "External Debts, Growth and Peace in the Sudan Some Serious Challenges Facing the Country in the Post-Conflict Era" identifies the face value of the loan as $3.2 million.
Number of official sources
5
Number of total sources
9
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Sudan [Government Agency]
Implementing agencies [Type]
Sudan Ministry of Water Resources, Irrigation and Electricity [Government Agency]
Tianjin Huakan Group Co., Ltd. [State-owned Company]
Loan Details
Maturity
9 years
Interest rate
4.0%
Grace period
1 years
Grant element (OECD Grant-Equiv)
18.3102%