China Eximbank pledges concessional loan for Oil Storage Facility Project

China Eximbank pledges concessional loan for Oil Storage Facility Project On January 8, 2007, the Vice-President of the Commonwealth Killion met with four people from the China Federal Overseas Construction Co., Ltd. ’s survey team for the oil storage facilities of the Commonwealth along with Chinese Ambassador Liu Fei.

Part of the project's goal is to shake off Mobil ’s monopoly on the country ’s oil supply and establish its own independently-owned oil storage facilities that meet international standards using loan from Export-Import Bank of China. 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.