China Eximbank pledges $500 million loan to support TBEA's power projects in Egypt
Pledged amount
$ 590402254.1792336
Adjusted pledged amount
$ 590402254.1792336
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
Egypt
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
In 2016, the Export-Import Bank of China (China Eximbank) expressed interest in providing a $500 million loan to support 1000MW of power generation, transmission and distribution (T&D) projects undertaken by TBEA Co., Ltd. in Egypt. As of May 2021, there is no evidence that this loan was approved by Egypt's Ministry of Electricity and Renewable Energy, who were required to respond within two months to approve the funding and the project.
Additional details
Number of official sources
0
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Egypt Ministry of Electricity and Renewable Energy [Government Agency]
Implementing agencies [Type]
TBEA Co., Ltd. [Private Sector]
Loan Details
Maturity
15 years
Interest rate
2.5%
Grace period
2 years
Grant element (OECD Grant-Equiv)
26.5901%