China Eximbank provides RMB 400 million government concessional loan for Oil and Gas Equipment Acquisition Project
Commitment amount
$ 87946063.07400657
Adjusted commitment amount
$ 87946063.07
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Turkmenistan
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On December 14, 2009, China Eximbank and the State Bank for Foreign Economic Affairs of Turkmenistan signed an RMB 400 million government concessional loan (GCL) agreement for the Oil and Gas Equipment Acquisition Project. The face value of the GCL is unknown. The maturity length of the loan was 20 years. however, the interest rate and grace period are unknown. The borrower was to use the proceeds of the GCL to finance a commercial contract between China Petroleum Technology & Development Corporation (CPTDC) and Turkmen state-owned oil company called Turkmeneft (or Türkmennebit or TurkmenOil). The purpose of this project was to facilitate the acquisition of oil and gas equipment by Turkmeneft from CPTDC. AidData has not yet identified any evidence that this project entered implementation.
Additional details
Number of official sources
2
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
State Bank for Foreign Economic Affairs of Turkmenistan [State-owned Bank]
Implementing agencies [Type]
Turkmenneft [State-owned Company]
China Petroleum Technology & Development Corporation (CPTDC) [State-owned Company]
Loan Details
Maturity
20 years