Completed Mixed AidData Chinese Aid

China Eximbank provides $96.5 million buyer’s credit loan for Phase 3 of Machinery and Equipment Acquisition Project (Linked to Record ID#55867 and #55579)

$96.5M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Eritrea
Country	Eritrea
Start Date	Jan 01, 2015
End Date	Apr 05, 2027
Duration	4,477 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`55868`

Grant Description

China Eximbank provides $96.5 million buyer’s credit loan for Phase 3 of Machinery and Equipment Acquisition Project In 2015, China Eximbank and the Government of Eritrea signed a $96.5 million buyer’s credit loan for Phase 3 of Machinery and Equipment Acquisition Project.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

The proceeds of the loan were used to finance a commercial contract with LiuGong (Liu Gong), which was signed on September 22, 2015.

The project involved the acquisition of 72 units of machinery and equipment from Liu Gong, including wheeled loaders, excavators, motor graders and bulldozers.

Shanghai Corporation for Foreign Economic & Technical Cooperation (SFECO) was the contractor responsible for implementation. A batch of machinery and equipment units was shipped from China to Eritrea on October 24, 2015. The project was reportedly completed, but its precise implementation start and end dates are unknown.

📋 Staff Comments

The Chinese project title is 厄立特里亚机械设备采购三期项目.
China Eximbank also financed Phase 1 and Phase 2 of the Machinery and Equipment Acquisition Project (as captured via Record ID#55867 and #55868).

📚 Sources & References

LiuGong wins third Eritrea Heavy Duty Equipment Procurement
Eritrea Transformer Industry Investment Prospects, 2014 & 2015 China Information Sheet
促进中非合作搭建中国企业走出去桥梁
厄立特里亚
厄立特里亚
对外投资合作国别（地区）指南-厄立特里亚
LiuGong wins another major Eritrean government equipment supply contract
World Economic and Trade Information: Eritrea other industry
Announcement of Competitive Consultation for the Third Phase of the Eritrea Machinery and Equipment Procurement Project of the Export-Import Bank of China
The second batch of goods for the third phase of the Eritrean mechanical equipment procurement project was successfully shipped
Shanghai Construction Group has been deeply involved in Eritrea, benefiting people's livelihood and promoting development projects, shining the light of China-Eritrea friendship 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.