China Development Bank pledges 18 million USD loan for bus terminal (Linked to #35866 and #35851)
Pledged amount
$ 27036180.86894626
Adjusted pledged amount
$ 27036180.86894626
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Ecuador
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government-guaranteed debt
Infrastructure
Yes
Category
Project lifecycle
Description
On February 13, 2009, China Development Bank and the State Bank of Ecuador signed an Indicative Terms and Conditions sheet, which outlined a potential 18 million USD loan for the completion of the Quitumbe Bus Terminal, the acquisition of road maintenance equipment, and other civil works in Quito. The potential loan terms discussed in the sheet included the following: a maturity period expected to be three years, a commitment and management fee, a six month LIBOR-based interest rate, and one disbursement for the full loan amount. The Ecuador Ministry of Finance was to provide a loan guarantee. The Quitumbe Bus Terminal has since been completed, though it is unclear if this was with Chinese financing, as there is no evidence of a loan agreement being signed. On the same day, several other cooperation agreements were signed, including two ETCAs (see #35851 and #88169) and a 50 million RMB credit line to boost agricultural trade and production (ID #35866).
Additional details
Number of official sources
1
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
Ecuador Development Bank (BDE) [State-owned Bank]
Guarantee provider [Type]
Ecuador Ministry of Economy and Finance [Government Agency]
Loan Details
Maturity
3 years