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Bank of China provides $12.8 million buyer's credit loan for Acquisition of 250 Buses Project
| Funder | Bank of China (BOC) |
|---|---|
| Recipient Organization | Government of Ghana |
| Country | Ghana |
| Start Date | Sep 08, 2003 |
| End Date | Jul 06, 2030 |
| Duration | 9,798 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 57067 |
Grant Description
Bank of China provides $12.8 million buyer's credit loan for Acquisition of 250 Buses Project On September 8, 2003, Bank of China and the Government of Ghana signed a $12,886,456 buyer's credit loan agreement to facilitate the the acquisition of 250 urban passenger buses. The Ghanaian parliament ratified the loan agreement on April 14, 2004.
Sinosure provided buyer’s credit insurance.
China National Machinery and Equipment Import and Export Corporation (CMEC) was the contractor responsible for project implementation.
The buses were produced by Shandong Heavy Industries, a subsidiary of Jiangsu Yaxing Bus Co., Ltd. (a Chinese state-owned enterprise). The terms of the loan are unknown. On April 23, 2004, the first batch of 36 buses arrived in Ghana and a formal handover ceremony was organized. All of the remaining buses were delivered by April 2006.
Staff Comments
- This project is also known as Acquisition of 400 Buses Project because the Government of Ghana ordered an additional 150 buses after signing the $12.8 million buyer's credit loan.
- The Chinese project title is 250辆城市交通客车.
- In the database of Chinese loan commitments that it released in July 2020, SAIS-CARI records a $19 million buyer’s credit loan from China Eximbank for this project. However, multiple official sources identify Bank of China as the lender. AidData records the face value ($12.8 million) of the buyer’s credit loan at the time that the loan agreement was ratified by the Ghanaian parliament.
Sources & References
- 中国向加纳提供城市交通客车交接仪式举行
- 中国客车国际保卫战
- Parliament Approves Buyer's Credit Agreement
- Speaker adjourns House to approve Chinese transport facility
- Chinese Loans to Africa Database 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.
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Government of Ghana
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