China Eximbank pledges to provide loan for Nawabshah-Gwadar LNG Terminal and Pipeline Project
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This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Pakistan
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
On April 20, 2015, the China Eximbank and the Government of Pakistan signed a framework agreement on the Gwadar-Nawabshah LNG Terminal and Pipeline Project. Under the agreement, China Eximbank reportedly pledged to provide debt financing (at an interest rate of LIBOR plus a 2% margin) for 85% of the cost of the project on a Build-Operate-Transfer (BOT) basis. However, a loan agreement was never finalized and the Pakistani Government eventually decided to “shelve” the project.
Number of official sources
7
Number of total sources
16
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Pakistan [Government Agency]
Implementing agencies [Type]
Government of Pakistan [Government Agency]
China Petroleum Pipeline Bureau [State-owned Company]
Loan Details
Interest rate
2.485%