China Eximbank provides $89.15 million preferential buyer's credit for Agno River Integrated Irrigation Project

📋 Staff Comments

1. The Chinese project title is 菲律宾阿格诺河综合灌溉项目 or 阿格诺河综合灌溉项目.
2. On August 17, 2016, Ruben S. Reinoso, Jr., Assistant Director General for Investment Programming at the National Economic and Development Authority (NEDA) of the Republic of the Philippines, identified a number of projects in the Philippines financed with preferential buyer's credits from China Eximbank. He also disclosed that the PBC borrowing terms were as follows: 20-year maturity, 5-year grace period, and 3% interest rate (see https://appfi.ph/images/2016/presentations/Symposium/3.-Reinoso.pdf). Therefore, AidData assumes for the time being that these borrowing terms applied to the specific PBC that financed the Agno River Integrated Irrigation Project.
3. The Government of Philippines loan identification number for the China Eximbank PBC that supported the Agno River Integrated Irrigation Project is CHI-6. Its loan identification number in the Debt Management and Financial Analysis System (DMFAS) is 29626000.
4. In the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020, the Agno River Integrated Irrigation Project is identified as being financed with an $85 million China Eximbank loan. AidData relies upon the face value of the loan that is reported by the Government of the Philippines ($89.15 million).

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• AS OF YEAR END 2008-2010
• FOREIGN DEBT SERVICE FOR REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
• BY CREDITOR, 2016-2018
• FOREIGN DEBT SERVICE FOR REGULAR LIABILITIES OF THE NATIONAL GOVERNMENT
• BY CREDITOR, 2009-2011
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• AS OF YEAR-END, 2018-2020
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• BY CREDITOR, 2017-2019
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• AS OF YEAR-END, 2017-2019 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.