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China Eximbank pledges a $230 million USD export credit loan for the replacement of 70,000 distribution transformers
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Bangladesh |
| Country | Bangladesh |
| Start Date | Jan 01, 2016 |
| End Date | Nov 09, 2031 |
| Duration | 5,791 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 54382 |
Grant Description
China Eximbank pledges a $230 million USD export credit loan for the replacement of 70,000 distribution transformers In October 2016, Chinese President Xi Jinping visited Bangladesh.
During his visit, the Chinese Government signed numerous agreements and made several pledges to support projects in Bangladesh.
One such pledge was a $230 million USD loan from the Export-Import Bank of China to Bangladesh for the replacement of transformers. The loan was planned to be an export's credit.
The project specifically involved the replacement of 70,000 distribution transformers in Bangladesh to guarantee the reliability of the electrical system; the Bangladesh Power Development Board (BPDB) was the Bangladeshi agency set to be involved in implementation.
However, as of May 2018, this loan, as well several other projects announced during Xi's visit, remained at the negotiation stage.
Bangladeshi officials pointed to a procedural change, where that both China Eximbank and China's Ministry of Commerce (MOFCOM) needed to approve the project before the loan was allowed to be signed. As of 2021, there is no evidence that any loan agreement was ever signed.
Sources & References
- Two dozen China-funded projects: Progress belies expectations
- BangladeshDistributionTransformersReplacement
- Two dozen China-funded projects: Progress belies expectations 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.
All Grantees
Government of Bangladesh
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