Project ID: 54756

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

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Suspended (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2017-05-15

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

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Details

Cofinanced

Yes

Loan Details

Syndicated loan

Investment project loan