Project ID: 58452

China Eximbank provides loan for mineral exploration in Venezuela (Linked to Umbrella Project #58475)

Summary

Funding agency [Type]

Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]

Recipient

Venezuela

Sector

Industry, mining, construction (Code: 320)

Flow type

Loan

Level of public liability

Other public sector debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (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

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2014-07-21

Description

In July 2014, China Eximbank signed a loan agreement for mineral exploration in Venezuela. The face value of this loan and its borrowing terms are unknown. All project implementation details are also unclear. This project was financed by a $1 billion USD credit line to PDVSA (see Umbrella Project #58475).

Additional details

Number of official sources

2

Number of total sources

5

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Details

Cofinanced

No

Direct receiving agencies [Type]

Pétroleos de Venezuela S.A. (PDVSA) [State-owned Company]

Loan Details

Bilateral loan