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Overview

Chinese Government provides a loan — via a 2014 ETCA— for purchase of equipment to Cuba (Linked to Record ID#69887)

Commitment Year•2014Country of Activity•CubaDirect Recipient Country of Incorporation•CubaSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 22, 2014

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

Government Agencies

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Government of Cuba

Loan description

Chinese Government provides a loan — via a 2014 ETCA— for purchase of equipment to Cuba

Interest rate (t₀)•0%Interest type•Fixed Interest Rate

Narrative

Full Description

Project narrative

On July 22, 2014, President Xi Jinping's visited Havana, Cuba and signed an ETCA, which details the granting of an interest-free loan for the supplies of materials and equipment and execution of projects agreed upon by both governments. On 28 January, 2015, during the XXVII Bilateral Intergovernmental Commission, officials from the China Ministry of Commerce signed an agreement to postpone an interest-free loan to Cuba's Ministry of Foreign Trade and Foreign Investment.