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Overview

China Eximbank signs $300 million buyer's credit line agreement with VEB-Leasing for acquisition of Chinese products (Linked to Record ID#66466)

Commitments (Constant USD, 2023)$307,665,954
Commitment Year•2014Country of Activity•RussiaDirect Recipient Country of Incorporation•RussiaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
May 20, 2014

Geospatial footprint

Map overview

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This project signs a buyer's credit line agreement with VEB-Leasing, a subsidiary of Vnesheconombank (VEB), headquartered at Vozdvizhenka Street, 10, Moscow, 125009, Russian Federation. More detailed locational information can be found at https://www.openstreetmap.org/way/31497223.

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% host country ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned Banks

  • Vnesheconombank (VEB Bank or VEB.RF)

Implementing agencies

State-owned companies

  • VEB-Leasing JSC

Loan desecription

China Eximbank signs $300 million buyer's credit line agreement with VEB-Leasing for acquisition of Chinese products

Interest type•Unknown

Narrative

Full Description

Project narrative

On May 20, 2014, China Exim Bank and VEB-Leasing, a subsidiary of Vnesheconombank (VEB) signed an agreement for a $300 million buyer's credit line. The credit line is planned to finance the purchase of Chinese-made products in the field of industrial equipment, transport, infrastructure, high tech and innovative products, machine-building devices, and electronic devices. On the same day, China Exim Bank and VEB(the parent company) signed another agreement for $500 million (see Record ID#66466). Both of these agreements will go to developing the coal fields in the Far East.