Chinese financing for equipment purchase to construct housing (linked to #37915, #63032)
Summary
Funding agency [Type]
Unspecified Chinese Government Institution [Government Agency]
Recipient
Venezuela
Sector
Other social infrastructure and services (Code: 160)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
In March of 2011, Venezuela signed a contract with Chinese company XCMG to purchase 6,025 sets of equipment for 744.6 million USD. The equipment was to be used in the construction of housing units. Machinery first began being delivered on June 20, 2011, with the last delivery in September of that same year. It was suggested that the money for the purchase came from the China-Venezuela joint fund, but was not confirmed. Transaction amount not recorded as it may duplicate joint fund amounts. At the same signing ceremony, a joint venture was set up with PDVSA and an unmentioned Chinese company to carry out the construction of the housing.
Number of official sources
5
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Venezuela [Government Agency]
Implementing agencies [Type]
XCMG Construction [State-owned Company]