Active Development AidData Chinese Aid

China Eximbank pledges $500 million loan for Electricity Transmission Network Project

$500K USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Nigeria
Country	Nigeria
Start Date	Aug 01, 2013
End Date	Oct 18, 2030
Duration	6,287 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`31033`

Grant Description

China Eximbank pledges $500 million loan for Electricity Transmission Network Project In August 2013, China Eximbank signed a memorandum of understanding (MoU) with the Government of Nigeria for a $500 million concessional loan to expand the country’s power transmission networks.

The Federal Government of Nigeria also entered into an agreement with Xi'an Electric Company Limited to execute a $500 million electricity transmission project aimed at expanding and upgrading Nigeria's weak transmission network within two years.

This project was to be designed and supervised by Manitoba Hydro International (MHI), the Federal Government of Nigeria’s appointed management contractor for the Transmission Company of Nigeria (TCN).

China Eximbank’s loan pledge was part of a larger $1.6 billion financial package from the African Development Bank, the World Bank, and a Euro Bond Issue. However, it does not appear that that this pledge ever materialized into an official commitment.

📋 Staff Comments

Boston University’s China's Global Energy Finance Database identifies this $500 million loan as an official commitment. However, AidData has not identified any official sources that confirm that a loan agreement was finalized. Also, in its “Status of Loans Obtained from China Exim As At March 31, 2020” publication, the Government of Nigeria’s Debt Management Office (DMO) does not identify a loan for this purpose/project.

📚 Sources & References

Nigeria signs agreement with Chinese firm to expand transmission network
FG Signs U.S.$500 Million Pact With Chinese Company On Electric Scheme
FG
Chinese Group Sign U.S.$500 Million Expand Transmission Network Deal
FG ENGAGES CHINESE FIRM TO EXPAND ELECTRICITY TRANSMISSION NETWORK
FG
Chinese group signs $500m deal to expand TCN network
Nigeria’s energy transmission programme gets US$1.6 billion boost
Nigeria: Govt Borrows U.S.$1.6 Billion to Expand Power Transmission, $1.6b for power transmission facilities coming
China's Global Energy Finance
Status of Loans Obtained from China Exim As At March 31_2020
Nigeria: FG
Chinese Group Sign U.S.$500 Million Expand Transmission Network Deal
中国公司与尼电力部签订输变电项目备忘录
China XD Group
BU_PITCH_ENGLISH_2018 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.