Active Development AidData Chinese Aid

China Eximbank provides $7.1 million USD loan for Cotton Ginning Factories Rehabilitation Project (Linked to Record ID#56979)

$7.1M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Sudan
Country	Sudan
Start Date	Apr 01, 2005
End Date	Feb 16, 2032
Duration	9,817 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`47017`

Grant Description

China Eximbank provides $7.1 million USD loan for Cotton Ginning Factories Rehabilitation Project In April 2005, China Eximbank and the Government of Sudan signed a $7.1 million USD loan agreement for the Cotton Ginning Factories Rehabilitation Project.

📋 Loan / Grant Terms

💰 Loan Amountcarried the following terms: 4% interest rate

📅 Maturity8 years

⏳ Grace Period2 years

💹 Interest Rate4%

According to Sudan’s Ministry of Finance and National Economy, $2.8 million USD of this loan was disbursed in 2007, and $2.9 million USD was disbursed in 2008.

Boshan Pump Industry Co., Ltd. (also known as Shandong Sure Boshan Pump Industry Co., Ltd.) was the contractor responsible for implementation. All other project details are unknown. In March 2004, the Chinese Government provided a $15 million USD loan for the same project (see Record ID#56979).

📋 Staff Comments

The Bank of Sudan's annual reports use the term 'loan fee' instead of interest rate.A CMI report (source #64700, p. 51) says that this loan commitment was actually $6.7 million USD. However, AidData relies on the $7.1 million USD figure provided by the Bank of Sudan.

📚 Sources & References

CENTRAL BANK OF SUDAN 45TH ANNUAL REPORT 2005
External Debts
Growth and Peace in the Sudan Some Serious Challenges Facing the Country in the Post-Conflict Era
Scoping study on Chinese relations with Sudan
Bank of Sudan Annual Report 2005 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.