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ICBC provides $100 million export seller's credit for the Smart Meter Supply and Installation Project
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | Huawei Technologies Co., Ltd. |
| Country | Lao People's Democratic Republic |
| Start Date | Jan 01, 2018 |
| End Date | Dec 30, 2033 |
| Duration | 5,842 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 89477 |
Grant Description
ICBC provides $100 million export seller's credit for the Smart Meter Supply and Installation Project In 2018, the Industrial and Commercial Bank of China (ICBC) issued a $100 million export seller's credit to Huawei Technologies Co., Ltd., which, in-turn, on-lent the funds to Électricité du Laos (EDL) — a state-owned power company in Laos — to finance the Smart Meter Supply and Installation Project.
However, it is known that the purpose of the project is to supply and installation of 500,000 advanced meters (“smart meters”) across four districts of Vientiane Capital, including in Chanthabouly and Sisattanak districts. Huawei Technologies Co., Ltd. was the contractor responsible for implementation.
Project implementation commenced in 2018, and all meter installation work was complete in Chanthabouly and Sisattanak districts by September 2020.
Sources & References
- Power Grid Improvement (PGI) Project
- Laos EDL: Digital Modernization of Power Distribution and Utilization
- Laotian Times September 16, 2020 Facebook post
- 老挝EDL：实现配用电数字化改造
- IEA Efficient Grid-Interactive Buildings Future of buildings in ASEAN 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
Huawei Technologies Co., Ltd.
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