CATIC provides $534.5 million supplier’s credit for unspecified purpose
Commitment amount
$ 534500000.0
Adjusted commitment amount
$ 534500000.0
Constant 2021 USD
Summary
Funding agency [Type]
China National Aero-Technology Import & Export Corporation (CATIC) [State-owned Company]
Recipient
Pakistan
Sector
Unallocated/unspecified (Code: 998)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
Between July 2021 and February 2022, China National Aero-Technology Import & Export Corporation (CATIC) issued a $534.5 million supplier’s credit (loan) to the Government of Pakistan for an unspecified purpose. The borrowing terms of the loan are unknown. By February 2022, the loan had achieved a 99.3% disbursement rate ($531.01 million out of $534.5 million).
Additional details
1. The purpose of this loan is unknown. This issue warrants further investigation. The last time that the Government of Pakistan borrowed from CATIC it was for the acquisition of JF-17 fighter jets (as captured via Project ID#87632).
Number of official sources
4
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Pakistan [Government Agency]
Implementing agencies [Type]
China National Aero-Technology Import & Export Corporation (CATIC) [State-owned Company]