Overview

ICBC provides $100 million export seller's credit for the Smart Meter Supply and Installation Project

Commitments (Constant USD, 2023)$100,629,629

Commitment Year•2018Country of Activity•Lao People's Democratic RepublicDirect Recipient Country of Incorporation•China (People's Republic of)Sector•EnergyFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2018

Start (actual): Jan 1, 2018

Geospatial footprint

Map overview

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The purpose of the project is to supply and installation of 500,000 advanced meters (“smart meters”) across four districts of Vientiane Capital, including in Chanthabouly and Sisattanak districts. More locational information can be found at: https://www.openstreetmap.org/relation/6979808#map=11/17.9212/102.6384

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 Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

Huawei Technologies Co., Ltd.

State-owned companies

Électricité du Laos (EDL)

Implementing agencies

Private Sector

Huawei Technologies Co., Ltd.

Loan description

ICBC provides $100 million export seller's credit for the Smart Meter Supply and Installation Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2018, the Industrial and Commercial Bank of China (ICBC) issued a $100 million export seller's credit to Huawei Technologies Co., Ltd., which, in-turn, on-lent the funds to Électricité du Laos (EDL) — a state-owned power company in Laos — to finance the Smart Meter Supply and Installation Project. The borrowing terms of the loan are unknown. However, it is known that the purpose of the project is to supply and installation of 500,000 advanced meters (“smart meters”) across four districts of Vientiane Capital, including in Chanthabouly and Sisattanak districts. Huawei Technologies Co., Ltd. was the contractor responsible for implementation. Project implementation commenced in 2018, and all meter installation work was complete in Chanthabouly and Sisattanak districts by September 2020.