CNTIC pledges $50 million loan to Ukrainian Danube Shipping Company for modernization of 21 tugboats and construction of 40 barges

$50M USD

Funder	China National Corporation for Technical Import and Export
Recipient Organization	Ukrainian Danube Shipping Company
Country	Ukraine
Start Date	Jan 01, 2017
End Date	Nov 01, 2026
Duration	3,591 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`66769`

Grant Description

CNTIC pledges $50 million loan to Ukrainian Danube Shipping Company for modernization of 21 tugboats and construction of 40 barges In June 2017, China National Technical Import and Export Corporation (CNTIC), a state-owned company, signed a memorandum of understanding (MoU) with Ukrainian Danube Shipping Company, regarding a possible $50 million loan in order to modernize 21 tugboats and construct 40 SLG barges.

📋 Loan / Grant Terms

💰 Loan Amountwould cary an interest rate of 2

Ukrainian Danube Shipping Company was also planning to receive assistance from the Austrian company Panta Rei for this project.

📋 Staff Comments

As of June 2017, the Ukrainian Danube Shipping Company’s fleet consisted of 466 ships (tugboats and barges), most of which were obsolete.

📚 Sources & References

Ukraine
China sign memo on river fleet modernisation
China’s CNTIC To Help Upgrade Ukrainian Danube Shipping Company’s Fleet
CNTIC Proposes Building Tugs For Ukrainian Danube Shipping Company 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.