Loading grant details…
CDB and China CITIC Bank provide $273.2 million buyer's credit loan for Supply of Locomotives, Cars, Spare Parts, and Tools for Long Distance Trains Project
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Argentina Ministry of Economy |
| Country | Argentina |
| Start Date | Jun 30, 2010 |
| End Date | Jan 10, 2026 |
| Duration | 5,673 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 54745 |
Grant Description
CDB and China CITIC Bank provide $273.2 million buyer's credit loan to Argentina for Supply of Locomotives, Cars, Spare Parts, and Tools for Long Distance Trains Project In 2010, China CITIC Bank Corporation Limited and the China Development Bank signed a $273,252,220 export buyer's credit loan agreement with Argentina’s Ministry of Economy and Public Finance for the Supply of Locomotives, Cars, Spare Parts, and Tools for Long Distance Trains Project.
The purpose of the loan was to finance the acquisition of twenty diesel locomotives and 220 long distance wagons, replacement equipment, and tools to Argentina.
Sinosure provided export buyer’s credit insurance.
China CITIC Bank Corporation Limited and the China Development Bank each contributed $136,626,110 to the syndicated loan.
The loan's (principal) amount outstanding was $0 as of December 31, 2011, $0 as of December 31, 2012, $87,293,470 as of December 31, 2013, $234,965,427.36 as of December 31, 2014, $198,816,900.08 as of December 31, 2015, $126,519,845.52 as of December 31, 2017, $90,371,318.24 as of December 31, 2018, $54,222,790.96 as of December 31, 2019, and $18,074,263.68 as of December 31, 2020.
The contractors for this project are two subsidiaries of China Northern Railway Corporation Ltd (CNR): Changchun Railway Vehicles Co. Ltd. and Dalian Locomotive & Rolling Stock Co. Ltd. (CNR Group). CNR Corporation is a subsidiary of China Railway construction Corporation (CRRC).
According to a Chinese media source, at the end of June 2011, contracts for the acquisition of 20 diesel locomotives and 220 rail passenger cars —between China CNR and the Argentina’ Planning Department — became effective.
According to press releases by the implementing companies, the locomotives were shipped from China in March 2013 and they arrived in Argentina in May 2013. On October 25, 2013, the railway trains were officially put into operation.
Staff Comments
- The Chinese project title is 中信建设出口布宜诺斯艾利斯市地铁A线车辆项目. The Spanish project title is La adquisición de material rodante para las líneas de subterráneos de la Ciudad Autónoma de Buenos Aires.
- For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
- The Government of Argentina’s Sistema de Análisis y Control de la Deuda (SIGADE) loan identification number is 27643000.
- The loan agreement can be accessed in its entirety via https://www.documentcloud.org/documents/20484836-arg_2010_473.
Sources & References
- - Query Re- Chinese Loans to Argentina, 2016 Memo From the Argentine Ministry of Finance, arg_2010_473
- China-Latin America Finance Database
- CUENTA DE INVERSIÓN 2011 SEPARATA DEUDA PÚBLICA
- CUENTA DE INVERSIÓN 2012 SEPARATA DEUDA PÚBLICA
- CUENTA DE INVERSIÓN 2013 SEPARATA DEUDA PÚBLICA
- CUENTA DE INVERSIÓN 2014 SEPARATA DEUDA PÚBLICA
- CUENTA DE INVERSIÓN 2015 SEPARATA DE DEUDA PÚBLICA
- CUENTA DE INVERSIÓN 2016 SEPARATA DE DEUDA PÚBLICA
- CUENTA DE INVERSIÓN 2018 SEPARATA DE DEUDA PÚBLICA
- CUENTA DE INVERSIÓN 2019 SEPARATA DE DEUDA PÚBLICA
- CUENTA DE INVERSIÓN 2020 SEPARATA DE DEUDA PÚBLICA
- CUENTA DE INVERSIÓN 2021 SEPARATA DE DEUDA PÚBLICA
- ESTADO DE LA DEUDA PÚBLICA DE LA ADMINISTRACIÓN CENTRAL ACUMULADO DESDE EL 01/01/18 AL 31/12/18
- ESTADO DE LA DEUDA PÚBLICA DEL SECTOR PÚBLICO ACUMULADO DESDE EL 01/01/16 AL 31/12/16
- MINISTRY OF FEDERAL PLANNING
- PUBLIC INVESTMENT AND SERVICES Decree 2154/2010
- Parlamentaria Mixta Revisora de Cuentas 2021
- 中信银行为阿根廷机车出口提供2.73亿美元买方信贷支持
- 中国北车出口阿根廷列车正式投运
- 中国北车出口阿根廷铁路提速客运线列车投入运营
- 中国北车首批出口阿根廷铁路客车顺利运抵
- 中国北车首次出口阿根廷机车装船启运
- 接手阿根廷出口信贷 中信银行掘金南美
- 聚焦中国高铁“出口” 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
Argentina Ministry of Economy
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
