ANNOUNCEMENT 09 Aug 2016
According to an official press release of 9 August 2016, the Eurasian Development Bank ("EDB") has provided an advance payment guarantee to Sakhalin GRES 2 (Russia). The current members of EDB are the Russian Federation, Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Tajikistan.
NUMBER OF INTERVENTIONS
Eurasian Development Bank
ЕАБР предоставил банковскую гарантию на строительство Сахалинской ГРЭС-2
Denomination in English of the provider of information: Eurasian Development Bank
China Imports Electricity from Russia
Heihe City of northeast China's Heilongjiang Province has started importing electricity from the Far East area of Russia recently, to meet the increasing demand for power in the local raw materials industries.
The Russian Far East: An Economic Handbook
The resource sector of the economy, p. 88-89
The advance payment guarantee is at the amount RUB 4.999 billion (approximately 77.241 million USD). Its duration is 18 months. The advance payment guarantee is related to a project for construction of one out of four facilities under RusHydro's (Russia) investment programme for the construction of new power facilities in the Russian Far East.
The purpose of building Sakhalin GRES 2 is to meet the growing energy demand in the region and replace the retired facilities of Sakhalin GRES.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.