Completed Development AidData Chinese Aid

China Eximbank provides RMB 50 million government concessional loan for Electric Water Pump Acquisition Project (Linked to Record ID#98029, 96221)

¥50M RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Myanmar Foreign Trade Bank (MFTB)
Country	Myanmar
Start Date	Feb 01, 2008
End Date	Jan 18, 2026
Duration	6,561 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`64154`

Grant Description

China Eximbank provides RMB 50 million government concessional loan for Electric Water Pump Acquisition Project In February 2008, China Eximbank and Myanmar Foreign Trade Bank (MFTB) signed an RMB 50 million government concessional loan (GCL) agreement for the Electric Water Pump Acquisition Project.

The agreement was signed during the working visit of Li Jun, Vice President of the Export-Import Bank of China, to Myanmar from February 24 to 28, 2008. The borrowing terms of the GCL are unknown.

The purpose of the project was to facilitate the acquisition of 192 sets of electric water pumps for use in power plants in the city of Yangon. The implementation status of this project is unknown.

There are some indications that the China Eximbank loan for the Electric Water Pump Acquisition 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 Purchasing Supplies for Yangon Power Plants Project. The Chinese project title is 192套电动水泵. The Burmese project title is ရန္ကုန္ၿမိဳ့ ဓာတ္အားခြဲ႐ုံမ်ား၏ ပစၥည္း၀ယ္ယူေရး.
According to the World Bank's Debtor Reporting System (DRS), the weighted average maturity of all official sector lending from Chinese creditors to government and government-guaranteed borrowing institutions in Myanmar was 18.1576-years in 2008. AidData estimates the maturity of the China Eximbank loan that supported the Electric Water Pump Acquisition Project by using this figure. See https://www.dropbox.com/s/949n5rctiue6d7c/IDS_Average_grace_period_and_maturity_on_new_external_debt_commitments.xlsx?dl=0 3. According to the World Bank's Debtor Reporting System (DRS), the weighted average grace period of all official sector lending from Chinese creditors to government and government-guaranteed borrowing institutions in Myanmar was 5.6246-years in 2008. AidData estimates the grace period of the China Eximbank loan that supported the Electric Water Pump Acquisition Project by using this figure. See https://www.dropbox.com/s/949n5rctiue6d7c/IDS_Average_grace_period_and_maturity_on_new_external_debt_commitments.xlsx?dl=0 4. According to the World Bank's Debtor Reporting System (DRS), the weighted average interest rate of all official sector lending from Chinese creditors to government and government-guaranteed borrowing institutions in Myanmar was 3.9534% in 2008. AidData estimates the interest rate of the China Eximbank loan that supported the Electric Water Pump Acquisition Project by using this figure. See https://www.dropbox.com/s/ab8qt4n6jijcbhd/IDS_Average%20interest%20on%20new%20external%20debt%20commitments.xlsx?dl=0

📚 Sources & References

中国进出口银行副行长李郡率团访问缅甸
Between 2006 and 2011
Myanmar received more than US $ 3 billion in loans from China and nearly two billion Chinese yuan in loans, the largest amount in the power and energy sectors.
Over $ 3 billion and nearly 2 billion yuan in loans from China in four years
Disclosure of 20 Chinese loans from 2006-2011 by Ministry of National Planning and Economic
Vice President of the Export-Import Bank of China Li Jun led a delegation to visit Myanmar
Burma expects better power supplies after hydro plant completion
大元環境工程獲386萬元合同
Burmese official: Foreign firms show interest in hydropower projects 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.