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China Eximbank provides $70.28 million preferential buyer’s credit for the Darawat Dam Project (Linked to Record ID#35904)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Pakistan |
| Country | Pakistan |
| Start Date | Jan 01, 2010 |
| End Date | Dec 24, 2026 |
| Duration | 6,201 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 70753 |
Grant Description
China Eximbank provides $70.28 million preferential buyer’s credit for the Darawat Dam Project In 2010, China Eximbank and the Government of Pakistan signed a $70.28 million preferential buyer's credit (PBC) agreement for the Darawat Dam Project.
The purpose of the project was to construct the Darawat dam, which is located on the Nai Baran River near Jhangri village in Jamshoro District and Sindh Province. Its locational coordinates are 25°24′33.4″N 67°56′33.3″E. Sinohydro was the contractor responsible for project implementation. On January 2, 2010, a groundbreaking ceremony took place for the project.
The contractor (Sinohydro) mobilized to project site on June 30, 2010. The project completion ceremony took place on March 9, 2013.
Staff Comments
- The Chinese project title is 达瓦特大坝.
- One WAPDA source suggests that the China Eximbank loan may have covered 90% of the total project cost.
- Some sources also refer to this dam as the 'Darwat Dam'.
- This project is related to a 2009 pledged line of credit for small dams in Pakistan (captured via Project ID#35904).
- The total cost of the EPC contract awarded to Sinohydro was 7.555 billion Pakistani rupees, and preferential buyer’s credits from China Eximbank typically cover 85% of the total cost of a project, so AidData estimates that the face value of the (USD-denominated) China Eximbank PBC for the Darawat Dam project was 6.42175 billion Pakistani rupee. Based on the average Pakistani rupee to USD exchange rate in 2010 (86.05 PKR = 1 USD), the estimated USD value of the preferential buyer’s credit from China Eximbank was $74,628,123. However, Pakistan's Ministry of Finance records the face value of the loan as $70,280,000. The official value is recorded as the transaction (financial commitment) amount for the time being. This issue warrants further investigation.
Sources & References
- Hydro Potential in Pakistan
- Darawat Dam Project
- China developing hydropower projects to overcome energy shortage
- The main project of China Hydropower Dawat Dam completed and handed over
- Darawat Dam
- Financial Investment in WAPDA Projects
- Federal Budget Estimates of Foreign Assistance 2011-2012
- Annual Report 2010-2011
- 安 徽 省 青弋江分洪道工程开工 仪 式隆重举行
- History of Naulong Dam
- Winder Dam
- Nai Gaj Dam
- SNCL brochure 2015
- Dams projects of Wapda: China’s EXIM Bank agrees to provide $700mn loans
- Pakistan
- Darawat Dam
- The 13th Hydropower Bureau
- Pakistan Dawat Dam Mixing Building System Starts Ribbon Cutting
- Pakistan Estimates of Foreign Assistance 2015-2016
- Pakistani President Attends Completion Ceremony of Darawat Dam 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 Pakistan
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