Active Development AidData Chinese Aid

China Eximbank signs first tranche facility agreement under RMB 30 billion credit facility (linked to Record ID#67623)

¥30M RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Myanmar Foreign Trade Bank (MFTB)
Country	Myanmar
Start Date	Apr 04, 2011
End Date	Dec 10, 2026
Duration	5,729 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`64665`

Grant Description

China Eximbank signs first tranche facility agreement under RMB 30 billion credit facility On April 4, 2011, Export-Import Bank of China and Myanmar Foreign Trade Bank signed the First Tranche Facility Agreement under a RMB 30 billion credit facility.

On October 18, 2013, President U Thein Sein made the proposal for a 50MW Power Plant in Rakhine State in a letter to the Pyidaungsu Hluttaw (recorded in the linked Record ID#67623).

He stated that more than US$57 million had been earmarked for the project from the 30 billion yuan (about $4.93 billion) loan made by Export-Import (EXIM) Bank of China.

The MoU for projects funded under the First Tranche Facility Agreement was signed in November 2014 during Chinese Premier Li Keqiang's visit to Myanmar.

The Assembly of the Union (or Congress of Myanmar) reported in May 2018 that it has approved a first stage loan of US$ 373.171 million of the 30 billion RMB credit facility, but the loan contract had not yet been signed. It is likely that the 373.171 million USD is the amount of the first tranche facility.

📋 Staff Comments

It was reported in 2014 that the credit facility was between China Eximbank and Myanmar's Ministry of National Planning and Economic Development. AidData has captured Myanmar Foreign Trade Bank as the receiving agency for now, as Ministry of National Planning and Economic Development is likely overseeing the implementation of projects financed under the facility. There is no evidence of a 30 billion RMB credit facility signed separately from the first tranche agreement captured in this project. As such, the transaction amount of this project has been coded as 30 billion RMB for now.

📚 Sources & References

Negotiation in PPA for Kyaukphyu Power Plant project finalized
President proposes relocating 50MW power plant to Rakhine State
Lawmakers discuss fiscal deficit for interim period, foreign loans
Myanmar’s China Policy since 2011: Determinants and Directions, in: Journal of Current Southeast Asian Affairs
PRESS RELEASE: H.E. Mr. Jia Qinglin's Goodwill Visit to the Republic of the Union of Myanmar
President U Thein Sein receives Chinese delegation led by Member of Standing Committee of Political Bureau of Communist Party of China Central Committee of PRC and Chairman of 11th National Committee of Chinese People’s Political Consultative Conference
President U Thein Sein
Chinese Premier Li hold talks at Presidential Palace
Lawmakers discuss fiscal deficit for interim period, foreign loans
Myanmar Power Sector Financial Analysis and Viability Action Plan − Inception Report
China-Myanmar oil, gas project benefits both 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.