China Development Bank pledges $100 million loan for Feruka Paper and Board Factory Construction Project

$100M USD

Funder	China Development Bank (CDB)
Recipient Organization	Government of Zimbabwe
Country	Zimbabwe
Start Date	Jan 30, 2008
End Date	Feb 28, 2028
Duration	7,334 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`19884`

Grant Description

China Development Bank pledges $100 million loan for Feruka Paper and Board Factory Construction Project On 30 January, 2008, a Chinese state-owned company, Shandong Taishan Paper Company, announced plans for the construction of a $100 million paper manufacturing plant called the Feruka Paper and Board Factory.

The factory, located in Manicaland Province, would recycle the large amounts of available sawdust between the towns of Chimanimani and Nyanga for the production of paper.

China Development Bank and the Infrastructure Development Bank of Zimbabwe reportedly agreed in principle to finance the project. Construction was slated to begin in February 2008; however, there is no evidence that this project ever moved forward. In January 2013, the Shandong Taishan Paper Company went bankrupt.

📚 Sources & References

Chinese Investor Eyes Manicaland
Shandong Taishan Paper and Cardboard Factory Went Bankrupted
Chinese Investor Eyes Manicaland, http://global.factiva.com/aa/?ref=AFNWS00020080130e41u0013j&pp=1&fcpil=en&napc=S&sa_from= Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.