Project ID: 54643

China gives 10 year extensions on 4 Cuban interest-free loans

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Cuba

Sector

Action relating to debt (Code: 600)

Flow type

Debt rescheduling

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Implementation (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2004-01-01

Planned start

2004-10-31

Planned complete

2014-11-01

Description

In November 2004, Bo Xilai, China's Minister of Commerce, and Ricardo Cabrisas Ruiz, a Cuban Minister, signed an agreement postponing Cuba's payment of 4 interest-free loans for 10 additional years. These government loans (collectively worth $50 million) were granted to Cuba between 1990-1994 They included a 1990 loan for a bicycle and fan factory; a 1992 loan for bicycles, fans, and fish farming programs; a 1992 loan for bicycles; and a 1994 loan for pharmaceutical raw materials, equipment, and medicines.

Additional details

Number of official sources

0

Number of total sources

4

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Cuba [Government Agency]

Loan Details

Interest rate

0.0%