Overview

CDB provides $10 million loan to Sinotex for Cotton Planting, Purchasing and Processing Project

Commitments (Constant USD, 2023)$11,364,971

Commitment Year•2011Country of Activity•ZimbabweDirect Recipient Country of Incorporation•China (People's Republic of)Sector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Apr 1, 2011

Start (actual): Apr 1, 2011

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% Chinese ownership

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

Private Sector

Sinotex United Import And Export Corp., Ltd.

Implementing agencies

Private Sector

Cotton Company of Zimbabwe Limited

Loan description

CDB provides $10 million loan to Sinotex for Cotton Planting, Purchasing and Processing Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In April 2011, China Development Bank provided a $10 million loan to Sinotex United Import and Export (Private) Limited for a Cotton Planting, Purchasing, and Processing Project in Zimbabwe. This project will, among other things, allow Sinotex United Import and Export (Private) Limited to purchase cotton lint from the Cotton Company of Zimbabwe (COTTCO). This loan was fully disbursed. The terms of the loan are unknown. The Chinese project title is 津巴布韦棉花项目 or 津巴布韦棉花种植项目 or 中非棉业津巴布韦有限公司.