CDB pledges $1.21 billion loan to BBCAA for Soy Processing Industrial Line
Pledged amount
$ 1357953439.1905324
Adjusted pledged amount
$ 1357953439.1905324
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]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Brazil
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
On May 19, 2015, Brazilian Governor Reinaldo Azambuja signed a cooperation agreement with the BBCA Group and China Development Bank (CDB) to finance projects in the area of grain crushing in Mato Grosso do Sul. At the same time. China Development Bank (CDB) agreed -- at least in principle -- to provide a $1.21 billion loan for the construction of a soy-processing industrial line and the refurbishment of mobile oil rigs. Upon completion, the project was is expected to generate 400 jobs and the new facility was expected to have ability to process 1.25 million tons of corn per year and 1 million tons per year of soybeans. However, as of 2021, there was still no evidence that the CDB loan ever materialized.
Additional details
Number of official sources
1
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Brazil [Government Agency]