Active Commercial AidData Chinese Aid

China Eximbank provides RMB 70 million export seller's credit for Power Equipment Supply Project

¥70M RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	China Machinery Engineering Corporation (CMEC)
Country	Iran
Start Date	Jan 01, 2001
End Date	Mar 03, 2027
Duration	9,557 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`104608`

Grant Description

China Eximbank provides RMB 70 million export seller's credit for Power Equipment Supply Project "In 2001, China Eximbank issued an RMB 70 million export seller's credit to China Machinery Engineering Corporation (CMEC), which apparently on-lent the loan proceeds to the Government of Iran for a Power Equipment Supply Project.

📋 Loan / Grant Terms

💰 Loan Amountincluded a 9-year maturity (final maturity: December 2009)

📅 Maturity9 years

⏳ Grace Period1 year

The borrower was expected to repay the lender in annual installments between 2002 and 2009. The loan was backed by an export credit insurance policy (ID#2000SP150 ) from Sinosure. The purpose of the project was to acquire and install air conditioniting units for multiple power plants in Iran.

📋 Staff Comments

1. According to the World Bank's Debtor Reporting System (DRS), the weighted average interest rate of all official sector lending from all Chinese creditors to government and government-guaranteed borrowing institutions in Iran was 7.3739% in 2000. AidData estimates the interest rate of the China Eximbank loan by using this figure. See https://www.dropbox.com/scl/fi/ef7q4y9pxjk6q3syuqmjy/May-2024-DRS-Extraction-of-Data-on-Official-and-Private-Chinese-Loans-to-Iran-and-Borrowing-Terms.xlsx?rlkey=wiqjmhuwunp3jelz3jyfepny8&dl=0

📚 Sources & References

May 2024 DRS Extraction of Data on Official and Private Chinese Loans to Iran and Borrowing Terms
Harbin Air Conditioning Co.
Ltd. Board of Directors Announcement 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.