Bank of China pledges to finance Multipurpose 637MW Chihuído I Hydropower Plant Project
Commitment amount
$ 2535143945.4461427
Adjusted commitment amount
$ 2535143945.4461427
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]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Argentina
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
Yes
Category
Project lifecycle
Description
In May 2017, Argentina's Minister of Finance visited China to promote financing for infrastructure projects, and met with authorities of Bank of China regarding the Chihuido I Dam. The dam was expected to produce 637 MW of electricity. On May 16th, at the meeting, Bank of China reportedly agreed to a syndicated loan worth $2.2 billion with a rate of 3-3.5%. However, Beijing decided to suspend the loan after Argentina stopped the construction of the Condor Cliff and La Barrancosa dams, which contracted China Gezhouba Group Corporation. The German government and other international firms have offered to fund the project.
Number of official sources
5
Number of total sources
7
Details
Cofinanced
Yes