Project ID: 63838

ICBC provides loan for acquisition of 1000 gas-powered buses

Summary

Funding agency [Type]

Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]

Recipient

Myanmar

Sector

Transport and storage (Code: 210)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2017-01-01

Planned start

2017-04-11

Actual start

2017-06-11

Actual complete

2017-06-30

NOTE: Red circles denote delays between planned and actual dates

Geography

Description

With credit support from the Industrial and Commercial Bank of China (ICBC) to a local private bank in Myanmar, Yangon Bus Services imported 1,000 gas-fueled buses from Yutong Company in 2017. For the project, Myanmar's Yangon regional government had entered a contract with Chinese Yutong company for buying over 1,000 buses to supply Yangon Bus Services System. The buses were put into operation on June 10, 2017. The contract that facilitated the acquisition of the buses was signed on April 11, 2017, and the price of each bus was set as $56,000.

Additional details

News reports state that two deals to import 2000 buses from China in 2017 amounted to 70 billion kyat, approximately $51.5 million. It is unclear what the breakdown is between the two deals.

Number of official sources

3

Number of total sources

6

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Details

Cofinanced

No

Direct receiving agencies [Type]

Yangon Regional Government [Government Agency]

Implementing agencies [Type]

Zhengzhou Yutong Bus Co., Ltd. [State-owned Company]

Loan Details

Bilateral loan