[Umbrella project] China Eximbank provides $1 billion preferential buyer’s credit for various projects (Linked to Record ID#72302, #49208, #66275, #49412, #66321, #73291, #70311, #72033, #66280, #49412, #85698, #85685, #88207)

[Umbrella project] China Eximbank provides $1 billion preferential buyer’s credit for various projects On November 10, 2015, China Eximbank and the Government of Mongolia signed a general loan agreement regarding the utilization of a $1 billion preferential buyer's credit (PBC) for various projects.

The agreement was ratified by Mongolia’s Parliament on November 26, 2015.

The general loan agreement that was signed on November 10, 2015 also specified that that the proceeds of subsidiary (individual) loans could be used by the borrower to finance up to 85% of the cost of an underlying commercial contract.

However, in 2017, the parties amended the general loan agreement, such that the proceeds of subsidiary (individual) loans could be used by the borrower to finance up to 95% of the cost of an underlying commercial contract.

The projects that were to be financed under the general loan agreement included: Ulaanbaatar-Mandalay Gobi Transmission Line Project (Record ID#72302) 114 km Tosontsengel-Uliastai Road Construction Project (Record ID#85698) Erdenet Thermal Power Plant 35 MW Generator Installation Project (Record ID#88207) Ulaanbaatar-Khushigt Valley New Airport Highway Construction Project (Record ID#49208) 20.9 km Gachuurt-Nalaikh-Choir Road Renovation Project (Record ID#85685) Competitive Higher Education Project (Record ID#66321) 129.4 km Bayankhongor-Baidrag Bridge Road Construction Project (Record ID#66280) Ulaanbaatar Central Wastewater Treatment Plant Construction Project (Record ID#91197) Meat Processing Plants and Quarantine Facilities Project (Record ID#73291) Tuul and Selbe River Improvement Project (Record ID#66275) Surveillance Cameras in Public Areas of Ulaanbaatar City and Rural Areas Streets and Roads Project (Record ID#70311) Tunnel Exit Project Ulaanbaatar Traffic Police Intersection Overpass Project (Record ID#72033) 129.4 km Bayankhongor-Baidrag Bridge Road Construction Project (Record ID#66280) There were also some preliminary negotiations between the Government of Mongolia and China Eximbank about the possibility of financing the 315MW Egiin Gol Hydropower Project (see Record ID#49412) under the general loan agreement.

However, these negotiations did not result in the signing of a subsidiary (individual) loan agreement.