Overview

CDB pledges financing to amendment of Belgrano Cargas railway line rehabilitation project (Linked to Record ID#36517)

Commitment Year•2017Country of Activity•ArgentinaDirect Recipient Country of Incorporation•ArgentinaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2017

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

China Development Bank (CDB)

Receiving agencies

Government Agencies

Argentina Ministry of Finance

Implementing agencies

State-owned companies

China Machinery Engineering Corporation (CMEC)

Loan desecription

CDB pledges financing to amendment of Belgrano Cargas railway line rehabilitation project (Linked to Record ID#36517)

Interest type•Unknown

Narrative

Full Description

Project narrative

On December 13, 2016, CMEC and Argentina's Ministry of Transportation signed an amendment contract to the first phase of the Belgrano Rail rehabilitation project for a total of 1.6 billion USD. The additional loan would be used to renew 92 railway bridges and the rail ring of Santa Fe city and construct access to Rosario ports and the Rosafe port complex. China Development Bank signed a MOU with Argentina's Ministry of Finance to finance the amended contract. It is unclear whether the full 1.6 billion funding is coming from CDB.

Staff comments

The buyer credit facility agreement can be accessed in its entirety via https://www.dropbox.com/s/qzg7l2gfhv1ul32/%242.09%20billion%20credit%20facility%20in%202014%20from%20CDB%20and%20ICBC%20for%20Belgrano%20Cargas%20railway%20line.pdf?dl=0