China Development Bank lends $125 million to China Africa Cotton Development Co., Ltd for Cotton Planting and Purchasing Project
Commitment amount
$ 153735022.66765967
Adjusted commitment amount
$ 153735022.67
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Africa, regional
Sector
Agriculture, forestry, fishing (Code: 310)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
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.
Additional details
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.
Number of official sources
4
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
China-Africa Cotton Development Ltd. [Joint Venture/Special Purpose Vehicle]