China Eximbank provides $17.3 million to supply residential cold and hot water meters
Commitment amount
$ 31115582.833677486
Adjusted commitment amount
$ 31115582.83
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Uzbekistan
Sector
Water supply and sanitation (Code: 140)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
On April 30, 2007, China Eximbank and Ipoteka Bank signed a $17,293,502.35 preferential buyer's credit (PBC) loan agreement for the procurement of Chinese-produced residential hot and cold water meters. The loan carried an interest rate of 2%, a 5 year grace period, a 20 year maturity, a 0.3% commitment fee, and a 0.3% management fee. It is to be repaid semi-annually. A consortium consisting of China National Machinery Import and Export Corporation and II YAN is the contractor responsible for project implementation. The consortium was contracted to provide more than 1 million hot and cold water meters to Uzbek public utilities and state local governments, and will be responsible for the installation of water meters. These water meters were to be installed in bungalows and buildings in Tashkent and other states.
Additional details
1. The Russian name of the project is «Оснащение жилищного фонда Республики Узбекистан приборами учета холодной и горячей воды».
Number of official sources
5
Number of total sources
5
Details
Cofinanced
No
Direct receiving agencies [Type]
Ipoteka Bank [State-owned Bank]
Implementing agencies [Type]
China National Machinery and Equipment Import & Export Corporation [State-owned Company]
Loan Details
Maturity
20 years
Interest rate
2.0%
Grace period
5 years
Grant element (OECD Grant-Equiv)
48.97%