ICBC provides $29.2 million export buyer's credit loan for Kungrad Soda Ash Plant Project (Linked to Record ID#54832)

Funder	China (People's Republic of)
Recipient Organization	Uzbekistan
Country	Uzbekistan
Start Date	Jan 24, 2003
End Date	Jul 07, 2026
Duration	8,565 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`39943`

Grant Description

ICBC provides $29.2 million export buyer's credit loan for Kungrad Soda Ash Plant Project In 2003, Industrial and Commercial Bank of China (ICBC) signed a $29.23 million export buyer's credit loan agreement with Uzbek Industrial and Construction Bank (JSC Uzpromstroybank) for the construction of the Kungrad Soda Ash Plant in Uzbekistan within the autonomous republic of Karakalpakstan.

The loan carried an interest rate of LIBOR + 1.5%. Sinosure provided insurance. 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.