Active Mixed AidData Chinese Aid

[Cancelled] China Eximbank provides $192.7 million preferential buyer’s credit for Amkodor-Mash Factory Construction Project

$192.71M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Belarus
Country	Belarus
Start Date	May 15, 2017
End Date	Jun 04, 2027
Duration	3,672 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`85156`

Grant Description

[Cancelled] China Eximbank provides $192.7 million preferential buyer’s credit for Amkodor-Mash Factory Construction Project On May 15, 2017, China Eximbank and the Government of Belarus signed a $192,713,700 preferential buyer’s credit (PBC) loan agreement [CHINA EXIMBANK № PBC 2017 (2) TOTAL № (428)] for the Amkodor-Mash Factory Construction Project.

📋 Loan / Grant Terms

📅 Maturity20 years

💹 Interest Rate2%

The Government of Belarus on-lent the loan proceeds to JSC Amkodor, a state-owned manufacturer of road construction vehicles, utility machinery, snow-removing, timber industry, agricultural machines and other special vehicles. JSC Amkodor was then to use the loan proceeds to finance a commercial contract with CITIC Construction Co., Ltd..

T he new Amkodor-Mash plant was to be built in the town of Kolodischi along Promyshlennaya Street, where a number of manufacturing enterprises are located. The size of the construction area was 18.0238 hectares. Parking places for 160 cars were to be situated near the plant.

The project envisaged the construction of 4 production buildings and the modernization of two existing buildings, a metal shop with production sites, warehouses, a test site, construction and modernization of administrative buildings. The factory was expected to produce 6,000 pieces of machinery per year — 500 per month or almost 24 per day.

The factory was also expected to provide around 1,500 jobs and work in 2 shifts.

However, in 2019, the Government of Belarus terminated the loan agreement that it contracted with China Eximbank in 2017 after the construction of the plant sparked protests from local residents.

📋 Staff Comments

The Russian project title is «Строительство завода по выпуску специальных машин в пос. Колодищи Минского района».

📚 Sources & References

Export.by - Amkodor-Mash to get $192.7m Chinese loan
Arnika - The New Amkodor-Mash Plant to be Constructed in Kolodischi, '200 млн на 20 лет под 2%'. Шакутин и китайская CITIC в Колодищах начинают вторую крупную стройку
Minsk Barometer No 6 (November and December 2018)
Economic cooperation between Republic of China and Republic of Belarus in the context of implementing the One Belt
One Road Foreign Economic Strategy, Об уточнении отдельных показателей республиканского бюджета на 2018 год, О проведении переговоров по проекту Кредитного соглашения между Правительством Республики Беларусь и Экспортно-импортным банком Китая и его подписании, Холдинг Салео возьмет 150 млн. долларов у Китая под гарантии правительства, Беларусь расторгает кредитное соглашение с Китаем по строительству завода в Колодищах — REFORM.by, О проведении переговоров по проекту Соглашения о расторжении Кредитного соглашения с Экспортно-импортным банком Китая и его подписании, Беларусь расторгает кредитное соглашение с Китаем по строительству завода в Колодищах — REFORM.by, Общественное обсуждение проекта по строительству завода «Амкодор» в Колодищах пройдет с 11 апреля по 5 мая – Колодищи Инфо, Кредитное соглашение с Китаем по строительству завода в Колодищах будет расторгнуто, Постановление СМ РБ 106 О проведении переговоров по проекту Соглашения о расторжении Кредитного соглашения с Экспортно-импор от 20.02.2019 - Законодательство Беларуси 2021 год, ООО «АМКОДОР-Маш»/ строительство нового современного предприятия — Амкодор 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.