Overview

China Eximbank pledges CFA 50 billion loan for acquisition of 2,200 trucks

Commitments (Constant USD, 2023)$88,443,519

Commitment Year•2015Country of Activity•SenegalDirect Recipient Country of Incorporation•SenegalSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2015

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 Senegal

Loan desecription

China Eximbank pledges CFA 50 billion loan for acquisition of 2,200 trucks

Interest type•Unknown

Narrative

Full Description

Project narrative

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.