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China Eximbank provides $107 million loan for Koka Gold Mine Project
| Funder | China (People's Republic of) |
|---|---|
| Recipient Organization | Eritrea |
| Country | Eritrea |
| Start Date | Jan 10, 2013 |
| End Date | Apr 27, 2032 |
| Duration | 7,047 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 30950 |
Grant Description
China Eximbank provides $107 million loan for Koka Gold Mine Project In July 2013, China Eximbank and Zara Mining Share Company (ZMSC) signed a $107 million loan agreement for the Koka Gold Mine Project.
The proceeds of the loan were used to partially finance a $145 million EPC contract with Shanghai Corporation for Foreign Economic & Technical Cooperation (SFECO).
ZMSC is a joint venture that is owned by SFECO (60% equity) and the state-owned Eritrean National Mining Corporation (ENAMCO) (40% equity). 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.
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Eritrea
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