Loading grant details…
China Eximbank provides $41.265 million preferential buyer’s credit for 230 KV Transmission Lines and Substations for the Yeywa Hydropower Plant Project (Linked to Record ID#34205, 96221, 98029)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Myanmar (Burma) |
| Country | Myanmar |
| Start Date | Sep 02, 2005 |
| End Date | Dec 22, 2032 |
| Duration | 9,973 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 64085 |
Grant Description
China Eximbank provides $41.265 million preferential buyer’s credit for 230 KV Transmission Lines and Substations for the Yeywa Hydropower Plant Project On September 2, 2005, China National Heavy Machinery Corporation (CHMC) and the Hydroelectric Power Department (HPD) of the Ministry of Electricity signed a $45.849 million commercial contract for the 230 KV Transmission Lines and Substations for the Yeywa Hydropower Plant Project.
China Eximbank and the Government of Myanmar subsequently signed a $41.265 million preferential buyer’s credit (PBC) agreement for the 230 KV Transmission Lines and Substations for the Yeywa Hydropower Plant Project. The borrowing terms of the PBC are unknown.
However, it is known that the borrower was to use the proceeds of the PBC to finance approximately 90% of the cost of the commercial contract.
The primary purpose of the project was to construct a 110km, 230kV power transmission line from the Yeywa Hydropower Plant to the Meiktila substation and a a 50km, 230kV power transmission line from the Yeywa Hydropower Plant to the Bellin substation. Additional power lines were constructed through this project but their starting points and ending points are unknown.
In total, the project involved the laying of 293 km of transmission lines. The project commenced on or around April 6, 2006, and it was completed on May 10, 2010.
There are some indications that the China Eximbank loan for the 230 KV Transmission Lines and Substations for the Yeywa Hydropower Plant Project may have financially underperformed vis-a-vis the original expectations of the lender.
In 2020, China Eximbank and the Government of Myanmar signed a debt suspension agreement as part of the G-20 Debt Service Suspension Initiative (DSSI).
Under the terms of the agreement, the lender agreed to suspend principal and interest payments due between May 1, 2020 and December 31, 2020 under 3 buyer’s credit loan (BCL) agreements, 6 government concessional loan (GCL) agreements, and 27 preferential buyer’s credit (PBC) agreements (as captured via Record ID#98029).
Debt service payments under many of these loan agreements were again deferred in 2021 (as captured via Record ID#96221).
Staff Comments
- This project is also known as the Yewa Hydropower Station 230KV Transmission and Transformation Project. The Chinese project title is 缅甸耶瓦水电站输变电项目 or 耶瓦水电站230KV输变电项目 or 缅甸YEYWA输、变电项目. The Burmese project title is အထက်ရဲရွာေရအာဵလျှပ်စစ်စီမဳကိန်ဵလျှပ်စစ်ဓာတ်အာဵပို့လွှတ်ေရဵနှငဴ်.
- 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.
- In 2003, China Eximbank and the Government of Myanmar also signed a $200 million preferential buyer’s credit agreement for the 790MW Yeywa Hydropower Plant Project (captured in Project ID#34205).
Sources & References
- 李进军大使出席缅甸耶涯水电站项目输变电标段签约仪式
- 热烈祝贺缅甸耶瓦水电站输变电项目合同签订
- 李进军大使出席缅甸耶涯水电站项目CW2标段签约仪式
- 驻缅甸大使叶大波就中缅友好合作关系接受解放军报社采访
- Modern China-Myanmar Relations Dilemma of Mutual Dependence
- BASELINE ASSESSMENT REPORT HYDROPOWER
- Asia Research Institute Working Paper Series No. 86
- 缅甸耶瓦输变电工程竣工
- China's Overseas Development Finance
- New employee of the head office-Wang Jun
- China Institute of Atomic Energy Experimental Fast Reactor Project
- Completion of Burma Yeywa Electricity Transmission and Transformation Project
- General Manager Lu Wenjun
- Deputy General Manager Zhu Xu and Xiao Ping visited Myanma
- Myanmar YEYWA power transmission and transformation project officially launched
- 中企海外项目周报（2023.3.25-2023.3.31）
- 缅甸昔卜水电站导流泄洪隧洞进入洞身开挖阶段
- MANDALAY DIVISION 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 Myanmar (Burma)
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
