Overview

China Eximbank provides $3.7 million loan for Drilling of 50 Wells in North Kordofan Project

Commitments (Constant USD, 2023)$7,416,023

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: Jun 20, 2005

First repayment (originally scheduled): Jan 1, 2006

Last repayment (originally scheduled): Dec 30, 2013

Geospatial footprint

Map overview

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This project involved the drilling of 50 water wells in North Kordofan State. More detailed location information can be found at: https://www.openstreetmap.org/relation/3774669.

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

Government Agencies

Sudan Ministry of Water Resources, Irrigation and Electricity

State-owned companies

Tianjin Huakan Group Co., Ltd.

Loan description

China Eximbank provides $3.7 million loan for Drilling of 50 Wells in North Kordofan Project

Grace period•1 yearsGrant element•21.3677%Interest rate (t₀)•4%Interest type•Fixed Interest RateMaturity•9 years

Narrative

Full Description

Project narrative

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.

Staff comments

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.