Export-Import Bank of China to provide USD $30 million loan for solar panel purchase
Pledged amount
$ 33841096.565695055
Adjusted pledged amount
$ 33841096.565695055
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]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Costa Rica
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
Yes
Category
Project lifecycle
Description
On June 3, 2013, Chinese President Xi Jinping and Costa Rican President Laura Chinchilla signed a financing agreement of 30 million USD preferential loan for the purchase of 50,000 solar panels.The expected borrower of the China Eximbank loan is the Banco de Costa Rica (a state-owned commercial bank in Costa Rica). The loan will be used for the purpose of building a 10 MW solar power plant and providing solar power to 28,000 families that still lack of electricity in remote and indigenous areas within the country. The proceeds of the loan were supposed to be used to facilitate the 50,000 solar panels from China. This project, however, was suddenly cancelled by the Costa Rican Institute of Electricity (ICE) on February 6th, 2015.
Number of official sources
3
Number of total sources
10
Details
Cofinanced
No
Direct receiving agencies [Type]
Banco de Costa Rica [State-owned Bank]
Implementing agencies [Type]
Banco de Costa Rica [State-owned Bank]