Chinese Government extends additional $70 million to credit line for Phase 2 of Hospital Modernization Project (Linked to Project ID#36184)
Commitment amount
$ 106721014.53643355
Adjusted commitment amount
$ 106721014.54
Constant 2021 USD
Summary
Funding agency [Type]
China Ministry of Commerce [Government Agency]
Recipient
Cuba
Sector
Health (Code: 120)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
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 Project 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 Project ID#36187). By 2014, two Chinese-financed hospitals had been built on the island.
Additional details
1. The project status has been recorded as Implementation, as it is unclear whether the credit line debt has been repaid.
Number of official sources
0
Number of total sources
11
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Cuba [Government Agency]