for all intents and purposes

Funder	in 2009
Recipient Organization	the Government of Gabon decided that the contract with CMEC had to be revised. An amicable agreement between the parties was signed in Paris on November 19
Country	following alleged breaches of contract by Comibel S.A.
Start Date	Oct 31, 2013
End Date	Jul 09, 2033
Duration	7,191 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`China Eximbank agreed in principle to provide a loan to Compagnie Minière de Bélinga (“Comibel S.A.”)`

Grant Description

a joint venture and project company that was established in 2007.

The Government of Gabon held a 15% equity stake in Comibel S.A. and Chinese investors (including CMEC) held an 85% equity stake in Comibel S.A. China Eximbank agreed in principle to be repaid with revenue generated from the Bélinga mine. However the Bélinga Iron Ore Project was cancelled. 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.