COVEC pledges $1 billion supplier’s credit for road construction activities
Pledged amount
$ 1502010048.2747922
Adjusted pledged amount
$ 1502010048.2747922
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 Overseas Engineering Corporation (COVEC) [State-owned Company]
Recipient
Moldova
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
In 2009, the Government of Moldova and China National Overseas Engineering Corporation (COVEC) signed an MOU regarding a possible $1 billion supplier’s credit for road construction activities. The MOU specified that the expected borrowing terms of the supplier’s credit were as follows: 15 year maturity. 3% interest rate. 5 year grace period. However, a supplier’s credit agreement was never finalized.
Additional details
Number of official sources
1
Number of total sources
5
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Moldova [Government Agency]
Implementing agencies [Type]
China National Overseas Engineering Corporation (COVEC) [State-owned Company]
Loan Details
Maturity
15 years
Interest rate
3.0%
Grace period
5 years
Grant element (OECD Grant-Equiv)
27.1264%