CMEC provides $22.2 million supplier's credit for Rabak Grain Silo Project

Project narrative

In December 2005, China National Machinery Import and Export Corporation (CMEC) provided a $22.2 million supplier's credit to the Government of Sudan for the Rabak Grain Silo Project. This loan carried the following borrowing terms: 8-year maturity, 2-year grace period, and 4% interest rate. As of June 30, 2012, CMEC estimated it would receive deferred payments including interest equal to $10.7 million. The project involved the construction of a 100,000-ton grain storage depot in Rabak (ربك or Rabbak), a city in southeastern Sudan and the capital of the White Nile State. CMEC was the contractor responsible for implementation. China's Ministry of Commerce claims that the total value of the commercial contract is $27 million but a CMEC source claims that is is actually $22.9 million. Construction began in October 2007 and a project completion ceremony was held on June 12, 2010.