Overview

China Eximbank provides $150 million buyer's credit loan for the acquisition of 1 million Chinese televisions (Linked to Record ID#54625)

Commitments (Constant USD, 2023)$348,378,261

Commitment Year•2001Country of Activity•CubaDirect Recipient Country of Incorporation•CubaSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2001

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

Government of Cuba

Loan desecription

China Eximbank provides $150 million buyer's credit loan for the acquisition of 1 million Chinese televisions

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2001, China Eximbank provided a $150 million buyer's credit loan to the Government Cuba to facilitate the acquisition of 1 million Chinese televisions. The borrowing terms of the loan are unknown. This is part of the larger, $400 million loan (recorded via Umbrella Record ID#54625). Media reports indicate that these TVs were sold in stores to individuals as well as installed in public places like schools.

Staff comments

1. The Chinese project title is 中国进出口银行关于熊猫集团出口古巴彩电项目买方信贷协议