In order to get the contracts in Ministry of xxx, I suggest you to let the Minister sign the contract without waiting for the LOI from banks. This is the normal practice in international EPC+financing, so that we can settle the dust from both Chinese and your sides.
You should let them understand that due to some many projects are competing for the limited quota from each bank, insurance company and Chinese governments, contracts are the only starts for submitting financing application documents, usually the earlier the contracts signed and advance payment paid to EPC contractor, the higher possibility to get approved by Chinese government such as Ministry of Commerce,
If they still waiting for the bank鈥檚 LOI, we will waste a lot of time. Actually bank from China or Chinese controlled banks are not the key factor to decide which projects to finance, they key factors are from the Chinese government departments.
You and I should try to clear as much trouble as possible for us, so that we can free his mind to work for our projects, please try to do the following:
1. Get a copy of the letter issued by the Ministry of xxx to other EPC declining to work with them.
2. Let the Ministry of xxx sign the contracts without bank鈥檚 LOI, which is not the main factor for approving financing.
Let the Minister of Finance issuing a LOI to Ministry of xxx or our Ministry of Commerce (CC to us) stating the 15% advance payment is ready and sovereign guarantee will be issued to these MOU defined projects, and these projects are prioritized for development from the side of your government. (this point is the key).