Completed Mixed AidData Chinese Aid

China Eximbank provides $50,883,600 preferential buyer's credit for Phase 1 of Rural Grid Extension Project (Linked to Record ID#62326, #62331, #62333)

$50.88M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Cambodian Ministry of Economy and Finance
Country	Cambodia
Start Date	Feb 21, 2011
End Date	Feb 01, 2032
Duration	7,650 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`32216`

Grant Description

China Eximbank provides $50,883,600 preferential buyer's credit for Phase 1 of Rural Grid Extension Project On February 21, 2011, China Eximbank and the Government of Cambodia's Ministry of Finance signed a $50,883,600 preferential buyer's credit (PBC) agreement for Phase 1 of the Rural Grid Extension Project.

📋 Loan / Grant Terms

📅 Maturity20 years

⏳ Grace Period7 years

💹 Interest Rate2%

The proceeds of PBC were used to partially finance an EPC (commercial) contract between Electricite du Cambodge (EDC) — the country’s state-owned electricity utility — and China National Heavy Machinery Corporation (CHMC), which was signed on December 13, 2010.

The purpose of the first phase of the project was to construct rural grid medium voltage (22 kV) transmission lines and expand two 115 kV substations in Kampong Cham, Prey Veng, Kampong Speu and Preah Sihanouk Provinces. CHMC was the EPC contractor responsible for implementation.

By September 15, 2011, it had received advance payments from the project owner (EDC) and China Eximbank. then, on April 5, 2012, a formal groundbreaking ceremony was held.

It was attended by the Minister of Industry, Mines and Energy of Cambodia (MIME), the Governor of Kampong Cham province, and the Chinese Ambassador to Cambodia Pan Guangxue. The project was ultimately completed on July 21, 2015. China Eximbank conducted a post-loan, on-site inspection on April 26, 2016.

📋 Staff Comments

This project is also known as Phase 1 of the Rural Grid Extension and Implementation (22Kv) Project in Kampong Cham, Prey Veng, Kampong Speu and Preah Sihanouk or the Project of Rural Grid Extension and Implementation (22Kv) in Kampong Cham, Prey Veng, Kampong Speu and Preah Sihanouk. The Chinese project title is 柬埔寨农村电网一期项目 or 柬埔寨农村电网一期项目.
The China Eximbank PBC is one out of 6 agreements signed on February 21, 2011 by the Chinese Government and the Government of Cambodia during the 2nd China-Cambodia Strategic Economic Dialogue.
China Eximbank also financed Phases 2, 3, 4, 5, and 6 of the Rural Grid Extension Project. Phase 2 is captured in Project ID#62326. Phases 3 and 4 are captured in Project ID#62331. Phases 5 and 6 are captured in Project ID#62333.

📚 Sources & References

China to help Cambodia boost social, economic development
Cambodia
China Sign Bilateral Cooperation Agreements
Cambodia work on China-funded power transmission line
Annual Report 2012
CDC Project of Rural Grid Extension and Implementation (22Kv) in Kampong Cham
Prey Veng
Kampong Speu and Preah Sihanouk
Cambodia Energy Situation
柬埔寨农村电网一期项目EPC合同签订
柬埔寨农网扩建工程
Project of Rural Grid Extension and Implementation (22Kv) in Kampong Cham
Prey Veng
Kampong Speu and Preah Sihanouk
Project/Program Information and Implementation Arrangements
国机集团签订柬埔寨农村电网一期项目EPC合同
Concessional Loan Department, the Export-Import Bank of China
Inspected Cambodia Rural Grid Extension Project
我优买资金支持的农村电网扩建项目开工
China Gave Concessional Loan to Cambodia to Support the Rural Power Grid Project
KINGDOM OF CAMBODIA RURAL ELECTRIFICATION AND TRANSMISSION PROJECT
Cambodia Rural Electrification Strategy and Implementation Plan Final Report
CHMC Signed Project Contract for Cambodia Rural Grid Extension Phase Ⅲ and Phase Ⅳ
Electricite de Cambodge Annual Report 2015
EPC Contract Coming into Effect for Cambodian Medium Voltage Rural Grid Extension (Phase I) & Substations
Concessional Loan Department, the Export-Import Bank of China
Inspected Cambodia Rural Grid Extension Project
China Institute of Atomic Energy Experimental Fast Reactor Project
柬埔寨农村电网扩建五、六期项目启动会召开
柬埔寨农村电网扩建一期项目EPC合同正式生效
柬埔寨农网改造一期工程项目启动
BU_PITCH_ENGLISH_2019-clean5.xlsx 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.