CNTIC pledges $50 million loan to Ukrainian Danube Shipping Company for modernization of 21 tugboats and construction of 40 barges
Pledged amount
$ 57616907.851048686
Adjusted pledged amount
$ 57616907.851048686
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]
China National Corporation for Technical Import and Export [State-owned Company]
Recipient
Ukraine
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In June 2017, China National Technical Import and Export Corporation (CNTIC), a state-owned company, signed a memorandum of understanding (MoU) with Ukrainian Danube Shipping Company, regarding a possible $50 million loan in order to modernize 21 tugboats and construct 40 SLG barges. The loan would cary an interest rate of 2.5%, a maturity period of 15 years and a grace period of 2.5 years. Ukrainian Danube Shipping Company was also planning to receive assistance from the Austrian company Panta Rei for this project.
Additional details
As of June 2017, the Ukrainian Danube Shipping Company’s fleet consisted of 466 ships (tugboats and barges), most of which were obsolete.
Number of official sources
1
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Ukrainian Danube Shipping Company [Private Sector]
Loan Details
Maturity
15 years
Interest rate
2.5%
Grace period
3 years
Grant element (OECD Grant-Equiv)
39.9771%