China Eximbank provides RMB 200 million government concessional loan to Türkmengaz for supply of oil and gas equipment and pipe products
Commitment amount
$ 38049935.19768793
Adjusted commitment amount
$ 38049935.2
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Turkmenistan
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On November 23, 2011, China Eximbank and the State Bank for Foreign Economic Affairs of Turkmenistan signed an RMB 200 million government concessional loan (GCL) agreement for the Oil, Gas, and Pipeline Equipment Acquisition Project (Правительственное льготное кредитное соглашение по проекту закупки нефтяного и газового оборудования между Государственным банком внешнеэкономической деятельности Туркменистана и Экспортно-импортным банком Китая). The borrowing terms of the loan are unknown. However, it is known that Türkmengaz — the national gas company of Turkmenistan — intended to use to the loan proceeds to purchase oil, gas, and pipeline equipment for its operations. According to a 2012 annual report published by the State Bank for Foreign Economic Affairs of Turkmenistan, this project entered implementation. However, its precise implementation start date is unknown.
Additional details
The Russian project title is проекту закупки нефтяного и газового оборудования
Number of official sources
3
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
State Bank for Foreign Economic Affairs of Turkmenistan [State-owned Bank]
Implementing agencies [Type]
Turkmengaz [State-owned Company]