Active Mixed AidData Chinese Aid

China Eximbank provides $172 million loan for acquisition and assembly of 152 locomotives in Kazakhstan

$172M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Kazakhstan Temir Zholy (KTZ)
Country	Kazakhstan
Start Date	Dec 29, 2002
End Date	Jul 04, 2027
Duration	8,953 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`40085`

Grant Description

China Eximbank provides $172 million loan for acquisition and assembly of 152 locomotives in Kazakhstan On December 29, 2002, the Export-Import Bank of China signed a $172 million loan agreement with Kazakhstan Temir Zholy (also known as National Company Kazakhstan Temir Zholy) — the national railway company of Kazakhstan — to finance the acquisition of new 152 Chinese locomotives.

The loan covered approximately 86% of the $200 million cost of the locomotives.

📋 Loan / Grant Terms

💰 Loan Amountcarried a maturity of 14 years

It did not receive a sovereign guarantee from the Government of Kazakhstan. Prior to this project, Kazakhstan Temir Zholy had not renewed its locomotive depot in eight years.

The China Northern Locomotive & Rolling Stock Industry Corporation provided the locomotives: two Dongfeng diesel locomotives with General Electric traction packages were to be imported from China, while another 150 were to be assembled in Shu in the Jambyl Region by 2009.

📋 Staff Comments

1. The precise loan commitment date is ambiguous; an agreement was signed by December 29, 2002, when the loan was announced at a management meeting, but it is unclear if the loan agreement was signed at that meeting. This issue warrants further investigation.

📚 Sources & References

KAZAKH RAILROAD TO GET $172 MLN FROM CHINA'S EXPORT-IMPORT BANK.
State monopoly Kazakhstan railway will enrich locomotive depot due to credit
Realities and costs drive Kazakhstan's railway reform 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.