China Eximbank provides preferential buyer's credit to ship 1 million television sets to Cuba

In 2004, China Eximbank and the Government of Cuba signed a preferential buyer's credit (PBC) loan agreement for the New Televisions Project. This loan carried the following terms: 8 year maturity, 2 year grace period, and 5.89% interest rate. The purpose of this project was to facilitate the acquisition of another one million Chinese televisions. In 2001, Cuba previously obtained a $150 million loan via a buyer's credit agreement from China Eximbank for the acquisition of the first batch of one million Chinese televisions (#54627).

Additional details

1. The Spanish project title is El Nuevo Proyecto de Televisores. 2. One source claims the agreement was signed on 10 June, 2005 (See: 6月10日，中国进出口银行梁骧行长助理与古巴国民银行行长伊尔玛女士签署了关于出口古巴100万台彩电的买方信贷协议。古巴驻华大使阿鲁菲、经济参赞伊莱安娜等出席了签字仪式).

Number of official sources

1

Number of total sources

11