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Eximbank Provides Credit for Ghana Electrified Project
The Export and Import Bank of China (Eximbank) signed an export seller's credit contract Friday with China International Water & Electric Corp (CWE) to provide 162 million yuan (about 19.28 million U.S. dollars) and 6.4 million U.S. dollars for a project in Ghana, which has been contracted by the CWE.
This is China's first export credit project in Western Africa. The contract values 32.82 million U.S. dollars, which will be supported by Eximbank's credit with an outstanding term of 11 years.
All the electronics and machinery products for the project will be made in China, a spokesman for Eximbank said.
He said that the Eximbank has engaged in a number of successful business ventures with the CWE involving contracting large projects overseas.
As the State's major export credit institution, the Eximbank has used many financial tools including export loans, export credit insurance and foreign-oriented guarantees to support the export of machinery and electronics equipment, complete sets of equipment and high-tech products.
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