China Eximbank pledges CFA 50 billion loan for acquisition of 2,200 trucks
Pledged amount
$ 94874931.9113156
Adjusted pledged amount
$ 94874931.9113156
Constant 2021 USD
Not recommended for aggregates
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
Senegal
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
In 2015, the Government of Senegal kicked off the 'Large Aircraft Renewal Project' (Programme de renouvellement des gros porters), which included the revamping of the entire transportation sector in Senegal. China Eximbank reportedly pledged a loan worth CFA 50 billion for the acquisition of carrier trucks to Senegal. A Moroccan company called Cnetm financed the first 800 trucks for this project through a PPP. The remaining 2,200 trucks will be reportedly constructed in China with financing through the Eximbank loan. The Senegalese government intends to cover the remaining cost of the trucks with an additional 41.6 billion FCFA in financing. On February 6, 2016, 73 trucks were delivered as part of this initiative. However, those trucks were constructed by Cnetm and not financed through China.
Number of official sources
1
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Senegal [Government Agency]