Overview

China loans 50 million RMB to Cuban Hospitals through Economic and Technical Cooperation Agreement

Commitments (Constant USD, 2023)$12,708,441

Commitment Year•2004Country of Activity•CubaDirect Recipient Country of Incorporation•CubaSector•HealthFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2004

Start (planned): Oct 31, 2004

First repayment (originally scheduled): Dec 30, 2008

Last repayment (originally scheduled): Dec 28, 2018

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

Government Agencies

China Ministry of Commerce

Receiving agencies

Government Agencies

Government of Cuba

Loan description

China loans 50 million RMB to Cuban Hospitals through Economic and Technical Cooperation Agreement

Grace period•5 yearsGrant element•59.8203%Interest rate (t₀)•0%Interest type•Fixed Interest RateMaturity•15 years

Narrative

Full Description

Project narrative

In November 2004, China agreed to provide a 50 million RMB ($6.1 million) governmental loan to be used in the acquisition of expendable material for hospitals and polyclinics, parts replacement for medical equipment; resources for stomatology and optics. The Economic and Technical Cooperation agreement to provide the loan was signed by Bo Xilai of China's Ministry of Commerce and Ricardo Cabrisas Ruiz of Cuba. The loan is for 15 years including a grace period of five years without interest (Opciones).