Overview

Chinese Government extends additional $70 million to credit line for Phase 2 of Hospital Modernization Project (Linked to Record ID#36184)

Commitments (Constant USD, 2023)$98,591,226

Commitment Year•2008Country of Activity•CubaDirect Recipient Country of Incorporation•CubaSector•HealthFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 19, 2008

Geospatial footprint

Map overview

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Chinese Government extends additional $70 million to credit line for Phase 2 of Hospital Modernization Project. More detailed locational information can be found at https://www.openstreetmap.org/relation/5219730, https://www.openstreetmap.org/relation/1854617, https://www.openstreetmap.org/relation/1854615, https://www.openstreetmap.org/relation/5901302, https://www.openstreetmap.org/relation/5875983#map=11/23.0526/-81.5783, and https://www.openstreetmap.org/relation/5892220

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 extends additional $70 million to credit line for Phase 2 of Hospital Modernization Project

Interest type•Unknown

Narrative

Full Description

Project narrative

On November 19, 2008, Chinese Government officials signed an agreement extending an additional $70 million to a $350 million line of credit from 2005 for the second phase of Cuba's project to expand and upgrade its hospitals. The original line of credit was provided by China Development Bank (as captured via Record ID#36184). Raul Castro and Hu Jintao at the Palace of the Revolution presided over the signing of the Economic and Technical Cooperation Agreement that 'backs up' this hospital repair credit line extension as well as the emergency hurricane relief aid (captured via Record ID#36187). By 2014, two Chinese-financed hospitals had been built on the island.

Staff comments

1. The project status has been recorded as Implementation, as it is unclear whether the credit line debt has been repaid.