China Eximbank pledges $300 million loan to Mali for two spinning mills at the COMATEX textile factory

$300M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Mali
Country	Mali
Start Date	Jan 01, 2016
End Date	Jan 09, 2028
Duration	4,391 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`58614`

Grant Description

China Eximbank pledges $300 million loan to Mali for two spinning mills at the COMATEX textile factory According to media reports in 2016, China Eximbank will loan Mali $300 million for two spinning mills.

According to De Peches Du Mali and Maliweb, the spinning mills will create 8,000 direct jobs and more than 10,000 indirect jobs. All other project details are unknown.

In the 1990s, China provided financing to COMATEX through a joint venture, in which China Overseas Engineering Group owned 80% of shares.

📚 Sources & References

Agriculture: ces 150 000 emplois directs perdus au Mali
Modibo Koné président
Modibo Koné
PDG sortant de la CMDT: “Je laisse 27 milliards de F CFA dans les caisses”
Modibo Koné: 'Mali can create millions of jobs through agriculture'
The 19th Congress of the Chinese Communist Party and Sino-African Relations
Malian textile development company: Modibo Koné passes the baton to Baba Berthé 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.