Active Mixed AidData Chinese Aid

China Eximbank provides $225 million buyer’s credit loan for Yangon International Airport Reconstruction and Expansion Project

$225M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Yangon Aerodrome Company Limited (YACL)
Country	Myanmar
Start Date	May 12, 2017
End Date	Jul 03, 2029
Duration	4,435 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`63430`

Grant Description

China Eximbank provides $225 million buyer’s credit loan for Yangon International Airport Reconstruction and Expansion Project On May 12, 2017, during the ‘One Belt, One Road’ International Cooperation Summit Forum, China Eximbank and Yangon Aerodrome Company Limited (YACL or 仰光机场有限公司) — a project company and subsidiary of Asia World Company Limited — signed a $170 million secured buyer’s credit loan agreement for the Yangon International Airport Reconstruction and Expansion Project.

It was originally envisaged that the loan proceeds would be used to finance 85% of the total project costs ($200 million). However, the face value of the loan was eventually upsized to $225 million.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

However, it is known that Sinosure provided buyer’s credit insurance in 2018.

The purpose of the project, which is being implemented as a Public-Private Partnership (PPP), is to reconstruct and expand the Yangon International Airport (ရန်ကုန်အပြည်ပြည်ဆိုင်ရာလေဆိပ်). The airport is located in Mingaladon, 15 kilometers (9.3 mi) north of central Yangon.

Its exact locational coordinates are 16.907222, 96.133056. China Harbour Engineering Company Ltd (CHEC) is the EPC contractor responsible for implementation of the project.

📋 Staff Comments

The Chinese project title is 仰光国际机场改扩建项目.
The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020.
Since January 2015, Yangon Aerodrome Company Limited (YACL) has held a concession from the Government of Myanmar’s Department of Civil Aviation (DCA) to develop, construct and operate terminal and other facilities at Yangon International Airport (YIA).
Asia World Company Limited is a private Burmese conglomerate.
Evidence of the loan's upsizing to $225 million can be found here: https://www.dropbox.com/s/3bse31a1zr7y15j/%E4%B8%BB%E8%A6%81%E9%A1%B9%E7%9B%AE%20_%20Legal%20Tax%20%26%20Investment%20Expertise.pdf?dl=0

📚 Sources & References

缅甸仰光机场公司与中国进出口银行签署贷款协议
Infrastructure Development By Using Public Private Partnership (PPP): A Case Study of Yangon International Airport Expansion
Myanmar
缅甸仰光机场公司与中国进出口银行签署贷款协议
YANGON INTERNATIONAL AIRPORT
China Outbound Investments Q2 2017
进出口银行和缅甸仰光机场公司签署贷款协议
金融时报：促进互利共赢架起“梦想之桥” 进出口银行助力“一带一路”建设, “一带一路”国际合作高峰论坛成果清单
进出口银行和缅甸仰光机场公司签署贷款协议
驻缅甸大使洪亮出席仰光国际机场新建国内航站楼启用仪式
Yangon International Airport
Yangon International Airport
CV- DFDL- William Greenlee
Concession Agreement signed to upgrade Yangon International Airport
Concession Agreement signed to upgrade Yangon International Airport
Looking Back: Five Years of Operations at Yangon International Airport
Yangon Aerodrome Company Limited Receives Aerodrome Certificate from Myanmar’s Department of Civil Aviation, ြြည်ေောင်စုစာရင်ဵစစ်ချုြ်၏ ၂၀၁၈ ခုနှစ်၊ ဧပြီလမှ စေ်တင်ဘာလအေိ (၆) စစ်ေဆဵေတ ွ့ရှိချေ်အစီရင်ခဳစာနှင်ဴစြ်လျဉ ်ဵ၍ ေလဴလာေတွ့ရှိချေ်နှင်ဴ သေဘာောဵမှတ ်ချေ်အစီရင်ခဳစာြေမတ ွဲ အမှတ်စဉ်(၁၆/၂၀၁၉)
Asia World
中国业务部曾参与中国客户在湄公河地区内外的大型项目, 2018年中国信保承保金额达6122.3亿美元同比增长16.7%
公司与口行签订仰光机场咨询论证合同
主要项目
China Overseas Development Finance 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.