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Eximbank Supports Cambodia Power Plant
The China Export and Import Bank (Eximbank) and China Electric Power Technology Import & Export Corporation (CEPTIEC) signed an agreement Saturday, December 9, on the financing of a hydropower project in Cambodia.
According to the agreement, Eximbank will provide export seller's credit of 91.5 million yuan (about US$11.73 million) and US$4.5 million for CEPTIEC to rehabilitate and manage the Kirirom I Hydropower Plant in Cambodia.
A spokesman for the Eximbank said that with a total investment of up to 20 million U.S. dollars, the hydropower plant will have an annual output capacity of 64 million kilowatts. The Chinese side will manage the plant for 30 years before handing it over to the Cambodian government.
Founded in 1994, Eximbank is China's State-owned export credit institution which mainly supports the export of machinery and electronic products, complete set of equipment and high-tech products.
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