Chinese Government provides RMB 14,620,000 interest-free loan for 4.3 km Buenos Aires Avenue Asphalting Project (Linked to Record ID#64944)

Project narrative

“In May 2001, the Chinese Government provided an RMB 14,620,000 interest-free loan to the Government of Bolivia — through an Economic and Technical Cooperation Agreement (ETCA) — for the 4.3 km Buenos Aires Avenue Asphalting Project. The loan, which is captured via Record ID#54826, carried the following borrowing terms: a 23 year maturity, a 13 year grace period, and a 0% interest rate. The loan’s (principal) amount outstanding was $1,876,705 as of December 31, 2012, $1,688,166 as of December 31, 2013, $1,414,189 as of December 31, 2014, $1,126,348 as of December 31, 2015, $840,725 as of December 31, 2016, and $0 as of December 31, 2017. The borrower made loan repayments worth $236,953 in 2013 ($236,953 in principal and $0 in interest), $233,174 in 2014 ($233,174 in principal and $0 in interest), $235,336 in 2015 ($235,336 in principal and $0 in interest), and $226,274 in 2016 ($226,274 in principal and $0 in interest). Then, on April 28, 2017, the borrower’s obligation to repay the loan’s outstanding amount (RMB 5,848,000 or $840,725) was cancelled by the Chinese Government (as captured via Record ID#64923). The project involved the paving of Buenos Aires Avenue. The paved portion of the Buenos Aires Avenue in La Paz stretches from Abaroa Bridge to Ramiro Castillo Square, Inca Llojeta area, for a total length of 4.3 kilometers. Guangdong Overseas Construction Group, Henan Transportation Planning Survey and Design Institute, and Xinjiang Chenghui Engineering Management Co., Ltd were the contractors responsible for project implementation, This project was completed on August 22, 2009. In 2017, the Chinese Government forgave the remaining balance on the loan, totaling RMB 5,848,000 (captured via Record ID#64923).