Project ID: 36186

Chinese Government reschedules Cuba's outstanding debt obligations

Summary

Funding agency [Type]

Unspecified Chinese Government Institution [Government Agency]

Recipient

Cuba

Sector

Action relating to debt (Code: 600)

Flow type

Debt rescheduling

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2008-11-19

Description

On November 19, 2008, the Chinese Government agreed to extend the repayment period of a 1998 loan to Cuba worth $7.2 million USD by five additional years. On the same day, China also agreed to extend the repayment period for an unspecified amount of trade-related debt that Cuba accumulated in 1995 by ten additional years. The agreement to defer the repayments was made in acknowledgement of the estimated $10 million USD worth of damage caused by hurricanes Gustav, Ike and Paloma earlier in 2008 as well as the global economic crisis.

Number of official sources

0

Number of total sources

4

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Cuba [Government Agency]

Loan Details