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How Chinese Enterprises May Apply for Foreign-Government Loans

Business Beijing, in cooperation with the Beijing Municipal Development and Reform Commission, is running this Q&A column to serve foreign investors.

If you have any questions about investing in Beijing please write us via e-mail at: invest@btmbeijing.com or fax at +86 10 6715 2381, we will find someone authoritative to provide you with the best and latest information available. Please remember: only e-mails and faxes are acceptable.

China has been using foreign-government loans since 1979. Loans provided by foreign governments are unlike commercial loans in that they usually feature low interest rates, long repayment terms and a grace period. They are relatively easy to get and some industries supported by the countries in question will have a certain proportion of their loans free of fees and with favourable loan terms. If a Chinese enterprise is qualified, it can apply for such loans, based on actual needs.

Q: We are a Chinese enterprise engaged in infrastructural development. We want to apply for a German Government loan. What are the basic requirements and conditions for an application?

A: If Chinese enterprises apply for a mixed loan from the German Government, they should comply with the following terms:

1. Currency: Euro

2. Main application areas and terms of loan

(1) Sewage disposal project: the proportion of soft and hard loans is 1:1.3. The loan period of a soft loan is 40 years with an annual interest rate of 0.75 percent, which includes a 10-year grace period. The loan period of hard loans is 10 years with the same commercial market loan rate, which includes a three-year grace period. In principle, the German Government does not allow loans of more than 70 percent of the total investment of a project. Procurement should be decided through international bidding; loans may be used to obtain equipment, for construction, training, consulting services and more. To guarantee the quality of the implementation, the German side needs to evaluate the executive capabilities of an applicant company; it can require the companies to invite consulting companies through international bidding, to assist in compiling bidding documents, joining the bidding evaluation and writing progress reports. The consultancy fee may be paid using loaned funds from the German Government or supporting funds.

(2) Climate conservation and urban development project: the loan period lasts for 20 years with a three-year grace period. They may be made up of soft and hard loans based on a certain proportion. Current annual interest rates are about 2.7 percent, and the German side will charge a 0.5 percent management fee for the total loan. Loans may be used to support projects for optimizing collective heating, energy reuse, improving energy efficiency, garbage disposal, urban public transportation (such as rail and intellectualized transportation), and permissible infrastructural construction project concerning environmental protection. The projects should suit local general development plans and rely on international bidding in acquisitions.

(3) Sustainable projects on natural resources: these loans may be used to sustain forest management in southern China and to control desertification in northern China. The loan period is 20 years with a three-year grace period. Soft and hard loans are offered based on a certain proportion. The current annual interest rate is about 2.2 percent, and the German side will charge a 0.5 percent management fee for the total loan. The loan for a single project cannot exceed 10 million euros (US$12.8 million), and the project should rely on international bidding for acquisitions.

Favourable conditions provided by the German Government include:

1. Terms of loans

(1) Period of loan: the period of loans for rail transportation and urban development projects is 17 years. Others last for 15 years. Grace periods are determined on a case-by-case basis; they may be extended by five years at most.

(2) Loan interest: The floating interest rate is six-month EURIBOR/LIBOR+0.45 percent. The fixed interest rate is calculated as follows: the refinancing cost of the same-period loan by the KfW plus 0.45 percent.

(3) Loan volume: The loan for a single project should not be for less than 15 million euros (US$19.2 million), but this number may be reduced by a certain percentage if the two sides come to an agreement through negotiations.

(4) Related charges: Three months after a loan contract is signed, a commitment fee will be charged for loans not withdrawn in time, at an annual rate of 0.25 percent. A management fee will be charged, with the rate for loans below 100 million euros at 0.35 percent. For loans above 100 million euros (US$128 million) the fee is 0.25 percent.

(5) Loan repayment: It can be repaid at equivalent value every half a year. When the sovereign credit rating of the Chinese Government is below the investment grades of the international capital market, the repayment periods of all projects are 12 years. As for the loans with floating interest rates, non-withdrawn loans can be repaid without cost on any interest-paying day, as long as the debtor informs the loaner 30 days ahead of time; for fix-interest-rate loans, debtors can repay un-withdrawn loans in advance as long as they are willing to bear all the cost incurred.

2. Currency: Euro

3. Applicable areas: environmental protection, energy, transportation, infrastructure, water supply, sewage disposal, medical care, production safety, research and development, cooperation in finance and other projects that promote development.

4. Procurement requirement: International bidding

5. Other requirement: Through bank-transferred loaning

 关于中国企业申请外国政府贷款的问题解答

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中国从1979年开始利用外国政府贷款，外国政府贷款不同于商业信贷，它具有利息低，还款时间长，还附有宽限期、赠与成份高（部分国家支持的行业赠送贷款金额的几十个点）等特点，是目前借贷条件比较好的贷款。中国企业如果具备一定的条件，即可根据需要选择申请。

问：作为一家从事基础设施建设的中国企业，想了解一下向德国政府申请贷款的基本情况和条件？

答：中国企业向德国政府申请混合贷款的情况如下：

1.币种：欧元。

2.使用主要领域和贷款条件：

（1）污水处理项目：软硬贷款比例为1:1.3，其中软贷款期限40年，含10年宽限期，年利率0.75%，硬贷款期限10年，含3年宽限期，同期市场商业贷款利率。德国政府贷款原则上不超过项目总投资的70%，项目采购方式为国际招标，贷款可用于支付设备、土建、培训和咨询服务等。为保证实施质量，德方需评估项目单位实施能力，必要时将要求项目单位通过国际招标聘请咨询公司，协助编制标书、参与评标和编写进度报告等，咨询费用由项目单位使用德国政府贷款或配套资金支付；

（2）气候保护和城市发展项目：贷款期20年，含3年宽限期，由软硬贷款按一定比例混合而成，目前年利率约为2.7%，德方按贷款总额的0.5%一次性收取管理费；贷款可资助集中供热、可再生能源、提高能源效率、垃圾处理、城市公共交通（如轨道交通和智能化交通）以及与环保相关的城市基础设施等项目，项目应符合所在城市总体发展规划，采购方式为国际招标；

（3）自然资源可持续性项目：可用于南方地区可持续森林经营和北方地区沙漠化防治项目，贷款期20年，含3年宽限期，贷款由软硬贷款按一定比例混合而成，目前贷款年利率约为2.2%，德方按贷款总额的0.5%一次性收取管理费，单个项目贷款金额不超过1000万欧元，采购方式为国际招标；

德国政府促进贷款情况如下：

1.牬钐跫?（1） 贷款期限：铁路和城市发展项目的贷款期17年，其他项目贷款期15年，宽限期视项目具体情况确定，最多5年；

（2）贷款利率：浮动利率为6个月EURIBOR/LIBOR+0.45%；固定利率为KfW相同期限贷款的再融资成本+0.45%；

（3）贷款额度：单个项目的贷款金额不得低于1500万欧元，经双方协商同意后可适当降低；

（4）相关费用：自贷款协议签署日3个月后，对应提未提贷款按每年0.25%收取承诺费；贷款的管理费一次性收取，1亿欧元以下的项目管理费率为0.35%，1亿欧元以上的项目管理费率0.25%；

（5）贷款偿还：每半年一次等值、连续的分期偿还。当中国政府主权信用评级低于国际资本市场的投资级别时，所有项目的还款期改为12年。浮动利率的贷款，可在任何利息支付日无成本提前偿还应付未付贷款，但须提前30天通知贷款方；固定利率下，借款人如承担所有因提前偿还引起的中断成本，可提前偿还应付未付贷款；

2.币种：欧元。

3.使用领域：环境保护、能源、交通、基础设施、供水、污水处理、医疗、生产安全和研发以及金融领域合作等其他促进发展的项目。

4.采购要求：国际招标。

5.其它要求：通过银行转贷。