Completed Development AidData Chinese Aid

Chinese Government provides RMB 100 million loan for purchase of Chinese drilling and hoist equipment

¥100M RMB

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Turkmenistan
Country	Turkmenistan
Start Date	Jul 07, 2000
End Date	Jan 19, 2029
Duration	10,423 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`73336`

Grant Description

Chinese Government provides RMB 100 million loan for purchase of Chinese drilling and hoist equipment On July 5-7, 2000, during the visit of Chinese President Jiang Zemin to Turkmenistan, Jiang Zemin held talks with Turkmenistan President Niyazov and signed the China-Turkmenistan Joint Declaration.

Chinese Minister of Foreign Trade and Economic Cooperation Shi Guangsheng signed a framework agreement with Turkmenistan's Deputy Prime Minister Kandymov regarding the Chinese Government's provision of an RMB 100 million concessional loan to the Government of Turkmenistan.

The Chinese Government subsequently issued an RMB 100 million loan to Government of Turkmenistan to finance the purchase of Chinese drilling and hoist equipment for the Turkmenneft and Turkmengas, which are state-owned enterprises.

📋 Loan / Grant Terms

💰 Loan Amountincluded a 4% interest rate

📅 Maturity10.166 years

⏳ Grace Period3.66 years

💹 Interest Rate4%

📋 Staff Comments

1. AidData relies on the borrowing terms that the Government of Turkmenistan recorded in the World Bank's Debtor Reporting System. See https://www.dropbox.com/s/2sw4f7gluxa52fk/DRS%20Official%20Commitments%20from%20China%20Through%202021.xlsx?dl=0 and https://www.dropbox.com/s/949n5rctiue6d7c/IDS_Average_grace_period_and_maturity_on_new_external_debt_commitments.xlsx?dl=0 and https://www.dropbox.com/s/ab8qt4n6jijcbhd/IDS_Average%20interest%20on%20new%20external%20debt%20commitments.xlsx?dl=0

📚 Sources & References

Turkmen Report: December 29, 2003
China to provide Turkmenistan with grant and interest-free loan
中国同土库曼斯坦的关系
DRS Official Commitments from China Through 2021
IDS_Average_grace_period_and_maturity_on_new_external_debt_commitments
IDS_Average interest on new external debt commitments 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.