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Eximbank Finances Bangladesh Power Projects
The Export and Import Bank of China (Eximbank) provided 580 million yuan in export sellers' credit Wednesday for China National Electric Wire & Cable Export Corp. to build 29 power substations and 819 kilometers of power transmission lines in Bangladesh.
Last June, the company signed an contracting agreement for a turn-key project with the Electricity Development Commission of Bangladesh. The project has a total contracted value of 108 million U.S. dollars, and the Chinese side will be responsible for the whole procedure, from design and construction to trial operation.
A spokesman for the Eximbank said the bank has always made the export of high-tech large machinery and electronics products, as well as complete sets of equipment, as the key for its financial support. By comprehensively using policy financial measures, the Eximbank has played an active role in promoting Chinese enterprises to develop the international market.
Statistics show that the Eximbank has financed 74 power projects with export sellers' credit. The accumulated loans reached 12.5 billion yuan plus 15.4 million U.S. dollars.
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