Overview

China Eximbank provides RMB 16 billion loan for Social Housing Project

Commitments (Constant USD, 2023)$2,690,581,199

Commitment Year•2013Country of Activity•United Arab EmiratesDirect Recipient Country of Incorporation•UnknownSector•Other Social Infrastructure And ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2013

Geospatial footprint

Map overview

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This loan supported a Social Housing Project in the Emirate of Dubai. More detailed locational information can be found at: https://www.openstreetmap.org/relation/4479752#map=10/25.0557/55.2640.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Miscellaneous Agency Types

Unspecified entity for Social Housing Project in Dubai

Guarantors

Government Agencies

Department of Finance of the Government of Dubai (DOF)

Loan description

China Eximbank provides RMB 16 billion loan for Social Housing Project

Interest type•Unknown

Narrative

Full Description

Project narrative

Prior to September 2013, the Export-Import Bank of China issued a RMB 16 billion loan to an unspecified borrowing institution for a Social Housing Project in Dubai. Dubai’s Department of Finance (DOF) provided a sovereign guarantee for the loan worth $2.49 billion USD. No additional details regarding the project or the loan are known.

Staff comments

1. This project is also known as the Low-Income Housing Project. 2. The project record is sole-sourced, but the source is the lending institution, specifically a September 2013 presentation by Li Fusheng of China Eximbank's Credit Appraisal Committee. 3. Li Fusheng’s email address is lifusheng@eximbank.gov.cn