Enel gets US$1 bn credit from Bank of China

Enel, Bank of China, and the China Export & Credit Insurance Corporation (Sinosure) signed a non-binding framework agreement to promote the development by Enel Group companies, in particular Enel Green Power, of projects on a world-wide basis with the participation of Chinese companies acting as engineering, procurement and construction contractors and/or suppliers.

Under this five-year framework agreement, Bank of China will provide Enel and its subsidiaries with a financing credit line of up to US$1 billion backed by Sinosure.

The agreement was signed at Bank of China’s head office in Beijing by the Head of Finance and Insurance of the Enel Group, Alessandro Canta, Bank of China’s Deputy General Manager of Corporate Banking Department, Li Mang, and SINOSURE’s Deputy General Manager of Business Development Department, Wang Xu.