Overview

CNPC provides $6.8 million USD interest-free loan for the purchase of railway cars, engines, and inputs

Commitments (Constant USD, 2023)$14,305,407

Commitment Year•2004Country of Activity•SudanDirect Recipient Country of Incorporation•SudanSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 5, 2004

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned companies

China National Petroleum Corporation (CNPC)

Receiving agencies

Government Agencies

Government of Sudan

Implementing agencies

Government Agencies

Sudan Ministry of Transport, Roads, and Bridges

State-owned companies

China National Petroleum Corporation (CNPC)

Loan description

CNPC provides $6.8 million USD interest-free loan for the purchase of railway cars, engines, and inputs

Interest rate (t₀)•0%Interest type•Fixed Interest Rate

Narrative

Full Description

Project narrative

On 5 March 2004, China National Petroleum Corporation (CNPC) — a major Chinese state-owned oil and gas corporation — signed a $6.8 million USD interest-free loan agreement with the Government of Sudan for the acquisition of railway cars, engines, and other railway infrastructure inputs and support for repairs to Sudan's railway network. This loan was reportedly to be repaid with the proceeds generated from freight transport on Sudan's railways. The other loan terms are unknown and it is unclear whether these funds were ever disbursed.

Staff comments

The AP records the face value of the loan as $10 million and states that CNPC financed the project. Chr. Michelsen Institute (CMI), which relies on data from the Government of Sudan’s Ministry of Finance and National Economy (MOFNE), records the face value of the loan as $6.8 million. AidData relies on the latter estimate. This loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020.