Active Mixed AidData Chinese Aid

China Eximbank provides RMB 200 million government concessional loan to Türkmengaz for supply of oil and gas equipment and pipe products

¥200M RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	State Bank for Foreign Economic Affairs of Turkmenistan (Turkmenvnesheconombank)
Country	Turkmenistan
Start Date	Nov 23, 2011
End Date	Oct 02, 2033
Duration	7,984 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`54119`

Grant Description

China Eximbank provides RMB 200 million government concessional loan to Türkmengaz for supply of oil and gas equipment and pipe products On November 23, 2011, China Eximbank and the State Bank for Foreign Economic Affairs of Turkmenistan signed an RMB 200 million government concessional loan (GCL) agreement for the Oil, Gas, and Pipeline Equipment Acquisition Project (Правительственное льготное кредитное соглашение по проекту закупки нефтяного и газового оборудования между Государственным банком внешнеэкономической деятельности Туркменистана и Экспортно-импортным банком Китая).

📋 Loan / Grant Terms

💰 Loan Amountincluded a 3% interest rate and a 20

📅 Maturity20.34 years

💹 Interest Rate3%

It is known that Türkmengaz — the national gas company of Turkmenistan — intended to use to the loan proceeds to purchase oil, gas, and pipeline equipment for its operations.

According to a 2012 annual report published by the State Bank for Foreign Economic Affairs of Turkmenistan, this project entered implementation. However, its precise implementation start date is unknown.

📋 Staff Comments

The Russian project title is проекту закупки нефтяного и газового оборудования.
Data on amounts outstanding can be accessed via https://tfeb.gov.tm/web/upload/global/2110%20SBFEA_2019_%28eng%29_signed%20%281%29.pdf and https://tfeb.gov.tm/web/upload/global/en%202012.pdf and https://tfeb.gov.tm/web/upload/global/TVEB_eng_2013_final.pdf and https://www.tfeb.gov.tm/page/413. According to the World Bank's Debtor Reporting System (DRS), the weighted average grace period of all official sector lending from all Chinese creditors to government and government-guaranteed borrowing institutions in Turkmenistan was 6.4-years in 2011. AidData estimates the grace period of the China Eximbank loan by using this figure. See https://www.dropbox.com/scl/fi/k9rnqdib5fdz2vv9fjc4k/August-2024-IDS-Download-Turkmenistan-s-Borrowings-and-Borrowing-Terms-from-Official-Sector-PRC-Creditors.xlsx?rlkey=l952qne9jm8bstvvf6ub9ybiq&dl=0

📚 Sources & References

В Пекине состоялись туркмено-китайские переговоры на высшем уровне
China
Turkmenistan vow to expand energy cooperation, Ашхабад и Пекин подписали пакет межгосударственных соглашений (версия 2), Ашхабад и Пекин подписали пакет межгосударственных соглашений (версия 2)
State Bank for Foreign Economic Affairs of Turkmenistan Financial Statements for the year ended December 31, 2019
August 2024 IDS Download -- Turkmenistan's Borrowings and Borrowing Terms from Official Sector PRC Creditors
STATE BANK FOR FOREIGN ECONOMIC AFFAIRS OF TURKMENISTAN ANNUAL REPORT 2011
STATE BANK FOR FOREIGN ECONOMIC AFFAIRS OF TURKMENISTAN ANNUAL REPORT 2012
Financial Statements 2023 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.