China EXIM Bank commits USD300M for Turkmenistan Carbamide Production Plant and Ashgabat Glass Factory (Linked to Record ID#69497, #69498)

Funder	China (People's Republic of)
Recipient Organization	Turkmenistan
Country	Turkmenistan
Start Date	Jul 17, 2007
End Date	Jan 21, 2028
Duration	7,493 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`40330`

Grant Description

China EXIM Bank commits USD300M for Turkmenistan Carbamide Production Plant and Ashgabat Glass Factory On August 22, 2006, Turkmen President Saparmurat Niyazov permitted the Turkmenistan State Bank for Foreign Economic Activity to conclude a 300-million USD preferential buyer's credit loan framework agreement with the Export-Import Bank of China.

The loan is to be released for 20-years at a preferential rate of 3.0% annually. 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.