China Development Bank provides $16.408 million loan for Athoke-Pathein Transmission Line and Substation Project (Linked to Project ID#98030, 98031)
Commitment amount
$ 18508823.748330813
Adjusted commitment amount
$ 18508823.75
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Myanmar
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Central government debt
Financial distress
Yes
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
In 2013, China Development Bank and the Ministry of Electricity and Energy of Myanmar (MOEE) signed a $16.408 million loan agreement for the Athoke-Pathein Transmission Line and Substation Project. The borrowing terms of the loan are unknown. The purpose of the project was to construct a 230KV power transmission line — that measures 30.25 miles in length — from the Pathein (Kan Kone or ပုသိမ်မြို့) substation to the Athoke substation. Pathein substation is located in Kangyidaunt (ကန်ကြီးတောင့်မြို့နယ်) Township, Pathein District, and Ayeyarwaddy Division. Athoke substation is located in Athoke Township and Yae-Kyi Township, Pathein District, and Ayeyarwaddy Division. Yunnan Provincial Energy Investment Group Co., LTD (YEIG) was the contractor responsible for implementation of the project. According to the MOEE, the project commenced in 2013 and was completed on November 1, 2015. There are some indications that the CDB loan for the Athoke-Pathein Transmission Line and Substation Project may have financially underperformed vis-a-vis the original expectations of the lender. In 2020, CDB and the Government of Myanmar signed a debt suspension agreement as part of the G-20 Debt Service Suspension Initiative (DSSI). Under the terms of the agreement, the lender agreed to suspend principal and interest payments due between May 1, 2020 and December 31, 2020 under 5 loan agreements (as captured via Project ID#98030). Debt service payments under these loan agreements were again deferred in 2021 (as captured via Project ID#98031).
Additional details
1. The current loan commitment year (2013) is an estimate based on the first year of project implementation. 2. The CDB loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020.
Number of official sources
4
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
Myanmar Ministry of Electricity and Energy [Government Agency]
Implementing agencies [Type]
Yunnan Provincial Energy Investment Group [State-owned Company]