China Eximbank provides $150 million buyer's credit loan for the acquisition of 1 million Chinese televisions (Linked to Project ID#54625)
Commitment amount
$ 377180665.11199635
Adjusted commitment amount
$ 377180665.11
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Cuba
Sector
Communications (Code: 220)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
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 Project ID#54625). Media reports indicate that these TVs were sold in stores to individuals as well as installed in public places like schools.
Additional details
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
Number of official sources
0
Number of total sources
9
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Cuba [Government Agency]