China Eximbank provides seller's credit to Tianjin Machinery Import and Export Corporation for the Pakokku Textile Mill Construction Project

In July 2001, Myanmar’s Ministry of Industry and Tianjin Machinery Import and Export Corporation signed a $27 million contract for the Pakokku Textile Mill Construction Project. China Eximbank issued an export seller’s credit to Tianjin Machinery Import and Export Corporation, which it then used to issue a supplier credit to the Government of Myanmar. The purpose of the project was to construct a textile mill — with 30,000 spindles and 828 auto shuttle looms — three miles away from Pakokku (Magway division) on the road to Shwetantit Port. The textile mill was opened and began commercial production on October 1, 2005. Upon completion, the mill reportedly had the capacity to produce nearly four million of 1/32 thread and more than 11 million yards of coarse cloth per year.

Additional details

1. The face value of the export seller’s credit is unknown. This issue warrants further investigation 2. The China Eximbank export seller’s credit 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. 3. AidData records the commitment year as 2000 because in the source "Modern China-Myanmar Relations Dilemma of Mutual Dependence," it is said that the contract for the project was signed in 2000. 4. This project is also known as the No. 5 Textile Mill Project.

Number of official sources

1

Number of total sources

7