China Eximbank provides $23.5 million buyer's credit loan for 1.95 MW Kinyeti Hydropower Plant and Associated Transmission Lines Project

Project narrative

On July 2, 2013, the Government of South Sudan and China Eximbank signed a $23,500,000 buyer’s credit loan (BCL) agreement for 1.95 MW Kinyeti Hydropower Plant and Associated Transmission Lines Project. The borrowing terms of the BCL are unknown. However, it is known that the borrower was expected to use the loan proceeds to finance 85% of the cost of a $28 million commercial contract with Sinohydro. According to the Government of South Sudan's Ministry of Finance, it was responsible for covering the remaining 15% of the commercial contract cost ($4.5 million). The primary purpose of the project was to supply power to the city of Torit. The project is located in the payam (administrative unit) of Hatire within South Sudan's Eastern Equatoria State. Sinohydro was the contractor responsible for project implementation. According to the United Nations Industrial Development Organization (UNIDO), the project was suspended due to financial constraints in 2016; however, according to the SAIS-CARI, the project was completed in 2015.