Overview

China Eximbank pledges $300 million loan to Mali for two spinning mills at the COMATEX textile factory

Commitments (Constant USD, 2023)$327,216,472

Commitment Year•2016Country of Activity•MaliDirect Recipient Country of Incorporation•MaliSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2016

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 Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

Government of Mali

Implementing agencies

State-owned companies

La Compagnie Malienne de Textile (COMATEX S.A.)

Loan desecription

China Eximbank pledges $300 million loan to Mali for two spinning mills at the COMATEX textile factory

Interest type•Unknown

Narrative

Full Description

Project narrative

According to media reports in 2016, China Eximbank will loan Mali $300 million for two spinning mills. According to De Peches Du Mali and Maliweb, the spinning mills will create 8,000 direct jobs and more than 10,000 indirect jobs. All other project details are unknown. In the 1990s, China provided financing to COMATEX through a joint venture, in which China Overseas Engineering Group owned 80% of shares.