Deutsche Bank China to provide $43m trade finance facility to CNTIC

Deutsche Bank (China) has provided a $43 million account receivable purchase facility to China National Technical Import & Export Corporation (CNTIC) for the construction of a gas-fired power generation project in Myanmar Backed by China Export & Credit Insurance Corporation, the mid-tenor facility is supporting a 90 MW plant located in Myingyan township, in the Mandalay region. The power plant is developed and operated by Hong Kong-based VPower under a five year power purchase agreement with Electric Power Generation Enterprise (EPGE) of Myanmar. CNTIC has been appointed as engineering, procurement, and construction (EPC) contractor for this project, which entered into…