China Eximbank pledges $57 million preferential buyer’s credit for Tuul and Selbe River Improvement Project (Linked to Project ID#49148)

On November 10, 2015, China Eximbank and the Government of Mongolia signed a general loan agreement regarding the utilization of a $1 billion preferential buyer's credit (PBC) for various projects (as captured in Project ID#49148). Under the terms of the general loan agreement, all subsidiary (individual) loan agreements for specific projects carry identical borrowing terms: 20 year maturity, 7 year grace period, 2% interest rate, 0% management fee, and 0.25% commitment fee. Then, in September 2018, the Government of Mongolia identified the Tuul and Selbe River Improvement Project as a candidate for a $57 million subsidiary loan (PBC). The purpose of this project is to create a healthy and safe environment for Ulaanbaatar's citizens along the Selbe and Tuul River. It involves the construction of a 9 km bike path and sidewalk along the river and an 8.5 km recreational area from Sun Road to the north to the Dambadarjaa Bridge. AidData has not identified any evidence of an EPC contract or a subsidiary loan agreement being signed for this project. In April 2021, China’s Ambassador to Mongolia announced that the Tuul and Selbe River Improvement Project would be implemented in the ‘coming years’.

Additional details

This project is also known as the Tuul and Selbe River Project, the Selbe River Improvement Project, the Tuul and Selbe River Improvement Project, and the Green street and Bikeway project along the Tuul and Selbe River Project. The Mongolian project title is Сэлбэ гол орчмыг сайжруулах төсөл.

Number of official sources

6

Number of total sources

11