Loading grant details…
China Eximbank pledges $1 billion loan for 360MW Gurara II Hydropower Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Nigeria |
| Country | Nigeria |
| Start Date | May 15, 2019 |
| End Date | May 19, 2030 |
| Duration | 4,022 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 60684 |
Grant Description
China Eximbank pledges $1 billion loan for 360MW Gurara II Hydropower Project On May 15, 2019, the Nigerian Federal Executive Council (FEC) approved a $1 billion loan with China Eximbank for the 360MW Gurara II Hydropower Project in Kaduna State in the north of the country.
The project, sponsored by the Federal Ministry for Power, is located 140 kilometers downstream of the existing smaller Gurara 1 hydro facility, placing the scheme around 40 kilometers from Abuja in Kaduna State.
Then, in July 2021, Nigeria’s Senate approved an external borrowing plan (titled ‘2018-2020 External Borrowing Rolling Plan’), which included a China Eximbank loan for the 360MW Gurara II Hydropower Project.
In December 2021, the Nigerian House of Representatives approved President Muhammadu Buhari’s request for a $786.38 million China Eximbank loan for the 360MW Gurara II Hydropower Project. However, as of June 2022, there was still no evidence of a loan agreement with China Eximbank ever being finalized.
Staff Comments
- In its China’s Global Energy Finance Dataset, Boston University's Global Development Policy Center identifies a $1 billion China Eximbank loan commitment for the 360MW Gurara II Hydropower Project. However, AidData has not identified any evidence of a loan agreement with China Eximbank being finalized, so it has status-coded the project as a pledge rather than a commitment.
- WRI's China Overseas Finance Inventory (COFI) identifies a $107,142,8571 China Eximbank loan commitment in 2021 for the 30MW Gurara Dam Project and a $892,857,143 China Eximbank loan commitment in 2021 for the 250MW Gurara Falls Project. See https://datasets.wri.org/dataset/cofi
Sources & References
- Nigeria approves $1bn Chinese loan for Hydropower project
- FG Okays $1bn Chinese Loan for Gurara Power Project
- Nigeria seeks China Exim Bank loan for hydro project
- FEC approves $1b Chinese loan for Gurara hydropower project
- GURARA HYDRO POWER PROJECT KADUNA
- Federal Govt. approves $1bn loan from China Exim Bank to finance Gurara Hydro Power Project
- US$1 billion hydropower project set to boost Nigeria’s energy
- China's Global Energy Finance
- Gurara II Hydroelectric - Chexim Direct Loan
- Gurara II Hydroelectric Power Station
- China’s Global Energy Finance 2019
- Reps approve Buhari’s $5.8bn loan request
- Nigerian Senate approves $8.325 bln foreign borrowing plan
- Senate approves Buhari’s $5.8bn 2018-2020 external borrowing request
- SENATE APPROVES BUHARI€™S $5.8BN 2018-2020 EXTERNAL BORROWING REQUEST 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
Government of Nigeria
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
