China Development Bank and China Eximbank pledge $1.9 billion syndicated oil-backed loan
Pledged amount
$ 2243528565.881088
Adjusted pledged amount
$ 2243528565.881088
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]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
South Sudan
Sector
Other social infrastructure and services (Code: 160)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
On August 9, 2016, the South Sudanese government said it is seeking USD $1.9 billion in loans from China to carry out various projects and proposes to set up a joint venture with Chinese companies to develop key infrastructures in the country. South Sudan's Foreign Affairs and International Cooperation Minister Deng Alor Kuol had met key officials from the China Development Bank and the Export and Import Bank of China, and the South Sudanese government had requested the $1.9 billion from the banks to develop oil fields and infrastructure projects. Part of the funds could be used to reopen key oil fields in the Unity state that has been shut down since a civil war began in December 2013. The loan agreement was not finalized, and the breakdown of the proposed financing from China EXIM Bank and CDB is unknown. This project is in the pledge stage.
Number of official sources
0
Number of total sources
2
Details
Cofinanced
Yes
Direct receiving agencies [Type]
Government of South Sudan [Government Agency]
Collateral
This loan is oil-backed.