Active Development AidData Chinese Aid

Bank of China pledges to finance Multipurpose 637MW Chihuído I Hydropower Plant Project

Funder	Bank of China (BOC)
Recipient Organization	Argentina
Country	Argentina
Start Date	May 15, 2017
End Date	Aug 29, 2027
Duration	3,758 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`54756`

Grant Description

Bank of China pledges to finance Multipurpose 637MW Chihuído I Hydropower Plant Project In May 2017, Argentina's Minister of Finance visited China to promote financing for infrastructure projects, and met with authorities of Bank of China regarding the Chihuido I Dam. The dam was expected to produce 637 MW of electricity.

On May 16th, at the meeting, Bank of China reportedly agreed to a syndicated loan worth $2.2 billion with a rate of 3-3.5%.

However, Beijing decided to suspend the loan after Argentina stopped the construction of the Condor Cliff and La Barrancosa dams, which contracted China Gezhouba Group Corporation. The German government and other international firms have offered to fund the project.

📋 Staff Comments

1. Bank of China's proposed contribution to the loan is unknown.

📚 Sources & References

China Argentina Priority Infrastructure Project List for 2017-2021
Caputo accompanies Macri to China to promote financing for infrastructure projects
Germany offers Argentina funding to finance Chihuido I, 2017 Hydropower Status Report
Santander
ING
Wurttemberg
Bayerische Landesbank among syndicate to finance Chihuido hydropower project
阿根廷和中国商谈基础设施项目融资清单
Analysis of 2017-2021 China Argentina Infrastructu Cooperation Plan. 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.