China Eximbank pledges a $230 million USD export credit loan for the replacement of 70,000 distribution transformers
Pledged amount
$ 271585036.9224475
Adjusted pledged amount
$ 271585036.9224475
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
Bangladesh
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
In October 2016, Chinese President Xi Jinping visited Bangladesh. During his visit, the Chinese Government signed numerous agreements and made several pledges to support projects in Bangladesh. One such pledge was a $230 million USD loan from the Export-Import Bank of China to Bangladesh for the replacement of transformers. The loan was planned to be an export's credit. The project specifically involved the replacement of 70,000 distribution transformers in Bangladesh to guarantee the reliability of the electrical system; the Bangladesh Power Development Board (BPDB) was the Bangladeshi agency set to be involved in implementation. However, as of May 2018, this loan, as well several other projects announced during Xi's visit, remained at the negotiation stage. Bangladeshi officials pointed to a procedural change, where that both China Eximbank and China's Ministry of Commerce (MOFCOM) needed to approve the project before the loan was allowed to be signed. As of 2021, there is no evidence that any loan agreement was ever signed.
Additional details
Number of official sources
0
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Bangladesh [Government Agency]
Implementing agencies [Type]
Bangladesh Power Development Board (BPDB) [Government Agency]