China Eximbank signs $300 million buyer's credit line agreement with VEB-Leasing for acquisition of Chinese products (Linked to Project ID#66466)
Commitment amount
$ 332128569.4225465
Adjusted commitment amount
$ 332128569.42
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Russia
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
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 project ID#66466). Both of these agreements will go to developing the coal fields in the Far East.
Additional details
Number of official sources
2
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Vnesheconombank (VEB Bank or VEB.RF) [State-owned Bank]
Implementing agencies [Type]
VEB-Leasing [State-owned Company]