Overview

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

Commitment Year•2014Country of Activity•VenezuelaDirect Recipient Country of Incorporation•VenezuelaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 21, 2014

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

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned companies

Pétroleos de Venezuela S.A. (PDVSA)

Loan description

China Eximbank provides loan for mineral exploration in Venezuela

Interest type•Unknown

Narrative

Full Description

Project narrative

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 Record ID#58475).