Completed Mixed AidData Chinese Aid

ICBC provides loan for acquisition of 1000 gas-powered buses

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	Yangon Regional Government
Country	Myanmar
Start Date	Jan 01, 2017
End Date	Aug 23, 2033
Duration	6,078 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`63838`

Grant Description

ICBC provides loan for acquisition of 1000 gas-powered buses With credit support from the Industrial and Commercial Bank of China (ICBC) to a local private bank in Myanmar, Yangon Bus Services imported 1,000 gas-fueled buses from Yutong Company in 2017.

For the project, Myanmar's Yangon regional government had entered a contract with Chinese Yutong company for buying over 1,000 buses to supply Yangon Bus Services System. The buses were put into operation on June 10, 2017.

The contract that facilitated the acquisition of the buses was signed on April 11, 2017, and the price of each bus was set as $56,000.

📋 Staff Comments

News reports state that two deals to import 2000 buses from China in 2017 amounted to 70 billion kyat, approximately $51.5 million. It is unclear what the breakdown is between the two deals.

📚 Sources & References

洪亮大使出席中国出口缅甸仰光城市公交车移交仪式
工行积极支持“一带一路”民生项目
ICBC Strongly Supports Projects Relating to Livelihood under Belt and Road Initiative
缅甸买中国2000辆公交汽车西方为什么恼了？
Myanmar to buy over 1,000 buses from China to reinforce transport strength
Suu Kyi's man in Yangon under fire over transit deal with China 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.