China Eximbank provides RMB 33.4 million government concessional loan for Acquisition of Machinery for the Improvement of Tarija Roads Project (Linked to Record ID#39428)

Project narrative

On February 26, 2004, China Eximbank and the Autonomous Government of Tarija signed an RMB 33,455,197 government concessional loan (GCL) agreement [CHINA EXIMBANK GCL 2004 (04) 114B] for the Acquisition of Machinery for the Improvement of Tarija Roads Project. The GCL carried the following borrowing terms: a 20 year maturity, a 9 year grace period, and a 2% interest rate. In total, the lender made disbursements worth approximately $5,518,656. The borrower made no principal repayments between 2004 and 2013. However, it paid interest and/or fees worth an unknown amount between 2004 and 2012 and $110,258 in 2013. Then, the borrower made loan repayments worth $577,929 in 2014 ($470,430 in principal and $107,499 in interest/fees), $560,426 in 2015 ($463,938 in principal and $96,488 in interest/fees), $526,558 in 2016 ($443,188 in principal and $83,370 in interest/fees), $505,161 in 2017 ($432,812 in principal and $72,349 in interest/fees), $508,190 in 2018 ($443,083 in principal and $65,187 in interest/fees), $477,740 in 2019 ($423,973 in principal and $53,767 in interest/fees), an unknown amount in 2020, $488,175 in 2021 ($449,466 in principal and $38,709 in interest/fees), $464,818 in 2022 ($436,003 in principal and $ 28,815 in interest/fees), and $430,211 in 2023 ($411,401 in principal and $18,810 in interest/fees). The loan’s (principal) amount outstanding was $5,368,120 as of December 31, 2012, $5,518,656 as of December 31, 2013, $4,924,518 as of December 31, 2014, $4,258,382 as of December 31, 2015, $3,554,932 as of December 31, 2016, $3,340,009 as of December 31, 2017, $2,748,188 as of December 31, 2018, $2,291,291 as of December 31, 2019, $2,011,519 as of December 31, 2020, $1,597,204 as of December 31, 2021, $1,042,034 as of December 31, 2022, and $613,037 as of December 31, 2023. The purpose of the project was to purchase machinery to improve the roads in Tarija. The Autonomous Government of Tarija -- also known as Gobierno Autónomo Municipal de Tarija (GAM Tarija) -- was responsible for implementation. The project was completed on October 22, 2005.