[Cancelled] China Eximbank and CDB agree to issue $400 million loan to facilitate acquisition of cars for the disabled
Commitment amount
$ 600804019.3099169
Adjusted commitment amount
$ 600804019.3099169
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Ukraine
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
On October 29, 2009, China Development Bank and China Eximbank signed an agreement with Ukrainian Ministry of Labor and Social Policy to lend $400 million to the Ukrprotez Industrial Association for the purchase of rehabilitation cars for disabled persons from Zaporizhzhia Automobile. The Government of Ukraine issued a sovereign guarantee in support of this loan. However, on December 11, 2009, Ukrainian President Yushchenko halted the approval of the $400 million loan, declaring the legislation passed by the Cabinet of Ministers to accept the loan unconstitutional. No further progress was made on accepting the loan and the project was eventually cancelled.
Additional details
The Ukrainian project title is проекту щодо закупівлі засобів реабілітації (автомобілів) длязабезпечення інвалідів з метою посилення соціальної захищеності громадян України
Number of official sources
6
Number of total sources
7
Details
Cofinanced
No
Direct receiving agencies [Type]
Ukrainian Ministry of Labor and Social Policy [Government Agency]
Implementing agencies [Type]
Ukrprotez Industrial Association [Private Sector]
Guarantee provider [Type]
Government of Ukraine [Government Agency]