Overview

Chinese Government donates 50,000 tons of fuel oil in 2009 (Linked to Record ID#63004, #63390)

Commitments (Constant USD, 2023)$31,369,683

Commitment Year•2009Country of Activity•Democratic People's Republic of KoreaDirect Recipient Country of Incorporation•Democratic People's Republic of KoreaSector•Industry, Mining, ConstructionFlow Type•Grant

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2009

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

Government Agencies

China Ministry of Commerce

Receiving agencies

Government Agencies

Government of North Korea

Loan description

Chinese Government donates 50,000 tons of fuel oil in 2009 (Linked to Record ID#63004, #63390)

Narrative

Full Description

Project narrative

In October 2009, when Premier Wen Jiabao visited North Korea, an agreement was reached in which the Chinese Government committed to donate 30,000 tons of food (captured via Record ID#63004), 50,000 tons of fuel oil (captured via Record ID#63382), and 80,000 tons of high-quality coal (captured via Record ID#63390) to the Government of North Korea. It is unclear if and when this project was implemented. 50,000 tons of oil is equivalent to 365,000 barrels of oil. Therefore, to estimate the monetary value of this donation ($22,611,750), AidData takes the average price ($61.95) of a barrel of West Texas Intermediate (NYMEX) Crude Oil in 2007 and multiplies it by 365,000 barrels of oil.