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Overview

China Development Bank lends $125 million to China Africa Cotton Development Co., Ltd for Cotton Planting and Purchasing Project

Commitments (Constant USD, 2023)$142,062,143
Commitment Year•2011Country of Activity•Africa, regionalDirect Recipient Country of Incorporation•Hong Kong (China)Sector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2011

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% Chinese ownership

Funding agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • China-Africa Cotton Development Ltd.

Loan description

China Development Bank lends $125 million to China Africa Cotton Development Co., Ltd for Cotton Planting and Purchasing Project

Interest type•Unknown

Narrative

Full Description

Project narrative

According to the CDB in 2018, since 2011, CDB has provided 9 cotton purchase loans to China Africa Cotton Development Co., Ltd. for a total of $125 million, which is mainly used to import cotton lint from Malawi, Mozambique, Zambia, and Zimbabwe, Mali, and Mauritius as part of a The Cotton Planting and Purchasing Project, the largest agriculture investment project in Africa. AidData has captured the following projects that were likely funded as part of the $125 million: #69250: CDB loan to China-Africa Cotton Malawi Limited for Cotton Planting and Purchasing Project #40731: CDB loan to China-Africa Cotton Mozambique Limited for the Subué Cotton Processing Plant Project The China-Africa Cotton Development Co,. Ltd is a joint-venture between the China-Africa Development Fund, Qingdao Ruichang Cotton Industrial Co., Ltd and Qingdao Huifu Textile Co., Ltd. registered in Hong Kong. The company has established 7 ginneries and 2 cotton seed oil extracting mills and one special seed plant in Africa.

Staff comments

1. This project is not marked as an umbrella as no transaction amounts for sub-projects have been captured. As such, there is no risk of duplication.