Completed Development AidData Chinese Aid

China Eximbank provides $54.2 million loan for acquisition of 1300 freight wagons

$54.24M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Pakistan
Country	Pakistan
Start Date	Jan 01, 2002
End Date	Jul 09, 2032
Duration	11,147 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`72698`

Grant Description

China Eximbank provides $54.2 million loan for acquisition of 1300 freight wagons On April 23, 2002, China Eximbank and the Government of Pakistan signed a $54,236,875 loan agreement to facilitate the acquisition of 1,300 freight wagons by Pakistan Railways.

📋 Loan / Grant Terms

💰 Loan Amountcarried an interest rate of 5

The scope of the project included (a) the acquisition of 420 freight wagons for Pakistan Railways that were to be manufactured in China, and (b) the acquisition of remaining 880 freight wagons for Pakistan Railways that were to be produced at the Moghalpura Railway Workshops in Lahore. China State Railway Group Company, Ltd. was the contractor responsible for project implementation.

As of April 2005, 130 out of 1300 freight wagons had been delivered, and another 130 were slated for arrival in June 2005. As of 2010, all 1300 freight wagons had been delivered.

📋 Staff Comments

1. The maturity of the loan is drawn from the following official

📚 Sources & References

https://www.finance.gov.pk/survey/chapters/09-debt.pdf2. The Government of Pakistan's identification number for the loan is PR/2003/1300. Sources: Summaries of Commitments & Disbursements
Pakistan Railways to import 52 CBUs during 2010-11
Pakistan Railways
Railways package deal with China hits problems
Pakistan Transport Plan Study in the Islamic Republic of Pakistan (PTPS): Chapter 9, 1,300 freight wagons to be imported from China: Mehar
STATUS REPORT JULY-JUNE 2008-09
Government of Pakistan External Debt and Liabilities (2006-2007) 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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