CNPC provides $6.8 million USD interest-free loan for the purchase of railway cars, engines, and inputs
Commitment amount
$ 15488034.428829126
Adjusted commitment amount
$ 15488034.43
Constant 2021 USD
Summary
Funding agency [Type]
China National Petroleum Corporation (CNPC) [State-owned Company]
Recipient
Sudan
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
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.
Additional details
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.
Number of official sources
0
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Sudan [Government Agency]
Implementing agencies [Type]
Sudan Ministry of Transport, Roads, and Bridges [Government Agency]
China National Petroleum Corporation (CNPC) [State-owned Company]
Loan Details
Interest rate
0.0%