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China Development Bank and China Eximbank pledge $1.9 billion syndicated oil-backed loan
| Funder | China Development Bank (CDB)|Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of South Sudan |
| Country | South Sudan |
| Start Date | Aug 09, 2016 |
| End Date | Jan 30, 2029 |
| Duration | 4,557 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 85124 |
Grant Description
China Development Bank and China Eximbank pledge $1.9 billion syndicated oil-backed loan On August 9, 2016, the South Sudanese government said it is seeking USD $1.9 billion in loans from China to carry out various projects and proposes to set up a joint venture with Chinese companies to develop key infrastructures in the country.
South Sudan's Foreign Affairs and International Cooperation Minister Deng Alor Kuol had met key officials from the China Development Bank and the Export and Import Bank of China, and the South Sudanese government had requested the $1.9 billion from the banks to develop oil fields and infrastructure projects.
Part of the funds could be used to reopen key oil fields in the Unity state that has been shut down since a civil war began in December 2013.
The loan agreement was not finalized, and the breakdown of the proposed financing from China EXIM Bank and CDB is unknown. This project is in the pledge stage.
Sources & References
- South Sudan seeks nearly $2 billion loan from China
- South Sudan seeking $1.9 bn loan from 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
Government of South Sudan
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