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Overview

ICBC provides loan for acquisition of 1000 gas-powered buses

Commitment Year•2017Country of Activity•MyanmarDirect Recipient Country of Incorporation•MyanmarSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2017
Start (planned)
Apr 11, 2017
Start (actual)
Jun 11, 2017
End (actual)
Jun 30, 2017

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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The purpose of this project was to support Yangon Bus Services. More detailed locational information can be found at: https://www.openstreetmap.org/relation/6004094

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 Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Government Agencies

  • Yangon Regional Government

Implementing agencies

Private Sector

  • Yutong Bus Co., Ltd.

Loan desecription

ICBC provides loan for acquisition of 1000 gas-powered buses

Interest type•Unknown

Narrative

Full Description

Project narrative

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.

Staff comments

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.