China Eximbank pledges to provide $136 million loan for Glass Production Factory Project
Pledged amount
$ 159680803.87791494
Adjusted pledged amount
$ 159680803.87791494
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]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Senegal
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
In 2012, the Export-Import Bank of China agreed in principle to provide a $136 million loan for the exploitation of extra-siliceous mineral deposits by the Africain des Verres IAV-SA company for the eventual purpose of developing a glass processing industry in Senegal. The project was to be located in the Fass-Boye-Diogo zone within the Department of Tivaouane and the Thies Region. The total cost of this project was $160 million, of which 85% was to be covered by China Eximbank. The other 15% was to be covered by FANAVID (a Brazilian company), which would buy 30% of the production. It is unknown if this loan was ultimately approved. The implementation status of this project is also unknown.
Number of official sources
1
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
FANAVID Fábrica Nacional de Vidros de Segurança [Private Sector]
Direct receiving agencies [Type]
Government of Senegal [Government Agency]
Implementing agencies [Type]
FANAVID Fábrica Nacional de Vidros de Segurança [Private Sector]
Industrie Africain des Verres IAV-SA [Private Sector]