Chinese Government provides RMB 100 million loan for purchase of Chinese drilling and hoist equipment

On July 5-7, 2000, during the visit of Chinese President Jiang Zemin to Turkmenistan, Jiang Zemin held talks with Turkmenistan President Niyazov and signed the China-Turkmenistan Joint Declaration. Chinese Minister of Foreign Trade and Economic Cooperation Shi Guangsheng signed a framework agreement with Turkmenistan's Deputy Prime Minister Kandymov regarding the Chinese Government's provision of an RMB 100 million concessional loan to the Government of Turkmenistan. The Chinese Government subsequently issued an RMB 100 million loan to Government of Turkmenistan to finance the purchase of Chinese drilling and hoist equipment for the Turkmenneft and Turkmengas, which are state-owned enterprises. The estimated borrowing terms of the loan included a 4% interest rate, a 10.166 year maturity, and a 3.66 year grace period.

Additional details

1. AidData relies on the borrowing terms that the Government of Turkmenistan recorded in the World Bank's Debtor Reporting System. See https://www.dropbox.com/s/2sw4f7gluxa52fk/DRS%20Official%20Commitments%20from%20China%20Through%202021.xlsx?dl=0 and https://www.dropbox.com/s/949n5rctiue6d7c/IDS_Average_grace_period_and_maturity_on_new_external_debt_commitments.xlsx?dl=0 and https://www.dropbox.com/s/ab8qt4n6jijcbhd/IDS_Average%20interest%20on%20new%20external%20debt%20commitments.xlsx?dl=0

Number of official sources

2

Number of total sources

6