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Overview

China Eximbank provides $70.28 million preferential buyer’s credit for the Darawat Dam Project (Linked to Record ID#35904)

Commitments (Constant USD, 2023)$90,389,812
Commitment Year•2010Country of Activity•PakistanDirect Recipient Country of Incorporation•PakistanSector•Water Supply And SanitationFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2010
Start (actual)
Jan 2, 2010
End (actual)
Mar 9, 2013

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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The Darawat dam is located on the Nai Baran River near Jhangri village in Jamshoro District and Sindh Province. Its locational coordinates are 25°24′33.4″N 67°56′33.3″E. More detailed locational information can be found at: https://www.openstreetmap.org/way/850226440

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

Government Agencies

  • Government of Pakistan

Implementing agencies

State-owned companies

  • Sinohydro Corporation Limited

Loan desecription

China Eximbank provides $70.28 million preferential buyer’s credit for the Darawat Dam Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2010, China Eximbank and the Government of Pakistan signed a $70.28 million preferential buyer's credit (PBC) agreement for the Darawat Dam Project. The borrowing terms of the loan are unknown. The purpose of the project was to construct the Darawat dam, which is located on the Nai Baran River near Jhangri village in Jamshoro District and Sindh Province. Its locational coordinates are 25°24′33.4″N 67°56′33.3″E. Sinohydro was the contractor responsible for project implementation. On January 2, 2010, a groundbreaking ceremony took place for the project. The contractor (Sinohydro) mobilized to project site on June 30, 2010. The project completion ceremony took place on March 9, 2013.

Staff comments

1. The Chinese project title is 达瓦特大坝. 2. One WAPDA source suggests that the China Eximbank loan may have covered 90% of the total project cost. 3. Some sources also refer to this dam as the "Darwat Dam". 4. This project is related to a 2009 pledged line of credit for small dams in Pakistan (captured via Record ID#35904). 5. The total cost of the EPC contract awarded to Sinohydro was 7.555 billion Pakistani rupees, and preferential buyer’s credits from China Eximbank typically cover 85% of the total cost of a project, so AidData estimates that the face value of the (USD-denominated) China Eximbank PBC for the Darawat Dam project was 6.42175 billion Pakistani rupee. Based on the average Pakistani rupee to USD exchange rate in 2010 (86.05 PKR = 1 USD), the estimated USD value of the preferential buyer’s credit from China Eximbank was $74,628,123. However, Pakistan's Ministry of Finance records the face value of the loan as $70,280,000. The official value is recorded as the transaction (financial commitment) amount for the time being. This issue warrants further investigation.