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China Development Bank provides $20 million loan for Car Factory Reconstruction Project (Linked to Record ID#66783)

$20M USD

Funder	China Development Bank (CDB)
Recipient Organization	JSC JSSB Belarusbank
Country	Belarus
Start Date	Jan 01, 2015
End Date	Oct 15, 2027
Duration	4,670 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`85161`

Grant Description

China Development Bank provides $20 million loan for Car Factory Reconstruction Project On May 10, 2015, China Development Bank opened a $300 million credit line with Belarusbank — a state-owned bank — to finance an unspecified set of infrastructure projects in Belarus (captured in Record ID#66783).

CDB subsequently approved a subsidiary $20 million loan under this credit line to support a Car Factory Reconstruction Project.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

Belarusbank on-lent the proceeds of the CDB loan to a joint venture called CJSC "Unison" [СП ЗАО «Юнисон»]. CJSC "Unison" then used the loan proceeds to reconstruct a car factory in the town of Obchak within Minsk district. The project was expected to take place between April 2017 and February 2019.

📋 Staff Comments

CJSC 'Unison' was founded in 1996 as a Belarusian-British joint venture. The plant currently assembles Cadillac, Chevrolet, and Zotye cars. Given that Zoyte (Zoyte International Automobile Trading Co., Ltd.) is a Chinese car company and 50% of the proceeds from the CDB loan had to be used to purchase Chinese goods and services, CJSC 'Unison' likely used the loan to purchase good and/or services from Zoyte. In June 2018, Zoyte and CJSC 'Unison' signed an agreement worth $560 million to facilitate assembly production of 30,000 Zoyte electric cars in Belarus by 2022. The CDB loan for this project is not included in the Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020.

📚 Sources & References

СП ЗАО «Юнисон» - Google Search, СП ЗАО «ЮНИСОН» - производство легковых автомобилей, микроавтобусов и спецтехники, Юнисон — Википедия
Export.by - СП ЗАО «Юнисон» проведет реконструкцию с расширением производства автомобилей за 18,1 млн долл, «Юнисон» собирается расширяться / 10.03.2017 - ИнфоБаза.by, Оглавление
BelarusChina - Unison
China’s ZOTYE sign $560m deal to produce 30,000 electric cars in Belarus
China's Overseas Development Finance 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

JSC JSSB Belarusbank

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