Completed Mixed AidData Chinese Aid

China Eximbank provides $99.3 million buyer’s credit loan for Electric Train Locomotive (18 Units) Acquisition Project (Linked to Record ID#42199)

$99.36M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Belarusian Railway\|JSC JSSB Belarusbank
Country	Belarus
Start Date	May 10, 2015
End Date	Oct 23, 2030
Duration	5,645 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`66580`

Grant Description

China Eximbank provides $99.3 million buyer’s credit loan for Electric Train Locomotive (18 Units) Acquisition Project On May 10, 2015, China Eximbank and Belarusian Railway (a state-owned railway company) signed a $99,361,920 buyer’s credit loan agreement for the Electric Train Locomotive (18 Units) Acquisition Project.

The loan was funded through a long-term, $5.7 billion credit line (loan framework agreement) from China Eximbank (captured in Record ID#42199).

📋 Loan / Grant Terms

💰 Loan Amountline carried the following terms: 10-15 year maturities

⏳ Grace Period5 years

📋 Loan / Grant Terms

💰 Loan Amountloan that supported the Electric Train Locomotive (18 Units) Acquisition Project are unknown

The Government of Belarus issued a sovereign guarantee in support of the loan.

Belarusian Railway then used $46,687,420 of the loan proceeds to finance 85% of the cost of a $54,940,000 commercial contract [№ 13CUEC6В 004S/Т/Ю-473] that it signed with CNR Datong Electric Locomotive Co., Ltd. on July 16, 2013 and $52,674,500 of the loan proceeds to finance 85% of the cost of a $61,970,000 commercial contract [№ 13CUE C6B004 S/T/Ю-472] that it signed with CNR Datong Electric Locomotive Co., Ltd. on July 16, 2013.

The former contract was used to facilitate the acquisition of eight 7.2MW electric locomotives and the latter contract was used to the acquisition of ten 7.2MW electric locomotives. In total, China Eximbank agreed to cover 85% of the cost of the $116.91 million value of the two commercial contracts.

The purpose of this project was to promote the modernization of the rolling stock of Belarusian Railway. CNR Datong Electric Locomotive Co., Ltd was the EPC contractor responsible for implementation.

On December 29, 2015, two electric trains departed from a factory owned by CNR Datong Electric Locomotive Co., Ltd. in China and began their journey through Central Asia and onward to Belarus. They arrived in Belarus on February 6, 2016. The remaining locomotives were successfully delivered, but their precise delivery dates are unknown.

📋 Staff Comments

The Russian project title is «Обновление подвижного состава Белорусской железной дороги. Приобретение 8 электровозов» or «Обновление подвижного состава Белорусской железной дороги. Приобретение 10 электровозов» or Поставка 18 электровозов.
This loan is not included in the Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020.
For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.

📚 Sources & References

China to fund more electrification in Belarus, БЕЛОРУССКАЯ ЖЕЛЕЗНАЯ ДОРОГА ПРИОБРЕТЕТ ОЧЕРЕДНУЮ ПАРТИЮ КИТАЙСКИХ ГРУЗОВЫХ ЭЛЕКТРОВОЗОВ, Продавцы последовательны, НАЧАЛЬНИК БЕЛОРУССКОЙ ЖЕЛЕЗНОЙ ДОРОГИ ВЛАДИМИР МОРОЗОВ ПРОВЕЛ ВСТРЕЧУ С ПРЕДСЕДАТЕЛЕМ СОВЕТА ДИРЕКТОРОВ ЭКСПОРТНО-ИМПОРТНОГО БАНКА КИТАЯ ХУ СЯОЛИЭН
Ministry of Finance: China grants credits of $3.5 billion
DECISION OF THE COUNCIL OF MINISTERS OF THE REPUBLIC OF BELARUS, Об утверждении перечня финансируемых за счет внешних государственных займов и внешних займов, привлеченных под гарантии Правительства Республики Беларусь, инвестиционных проектов и предназначенных для реализации таких проектов технологического оборудования и запасных частей к нему, которые при ввозе на территорию Республики Беларусь освобождаются от таможенных пошлин и налога на добавленную стоимость, ПОСТАНОВЛЕНИЕ СОВЕТА МИНИСТРОВ РЕСПУБЛИКИ БЕЛАРУСЬ 4 мая 2009 г. No 572
中国北车再获白俄罗斯大功率电力机车出口订单
中国北车为白俄罗斯打造“最智能”电力机车
More Chinese electric locomotives for Belarus
Testing underway of Belarus’ new Chinese locos, Инвестиционная деятельность в Республике Беларусь
中白货运2型电力机车抵达白俄罗斯, БКГ-2 Electric Locomotive Arrive in Belarus, БКГ-2 electric locomotive for Belarus delivery
China's Overseas Development Finance
WHITE PAPER ON GREEN FINANCE AND SOCIAL RESPONSIBILITY THE EXPORT-IMPORT BANK OF 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.

All Grantees

Belarusian Railway|JSC JSSB Belarusbank

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 Grant