CDB provides $500 million loan to BANDES and PDVSA in December 2009 for unspecified purposes
Commitment amount
$ 751005024.1373961
Adjusted commitment amount
$ 751005024.14
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Venezuela
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
According to a public filing with the U.S. Securities and Exchange Commission (SEC), in December 2009, China Development Bank (CDB) signed a $500 million credit facility with Pétroleos de Venezuela S.A. (PDVSA) and Banco de Desarrollo Económico y Social de Venezuela (BANDES) for unspecified purposes. The borrowing terms are unknown. It is unclear whether this facility was ever disbursed.
Additional details
1. The China-Latin America Finance Database, which is co-produced by the Inter-American Dialogue and Boston University’s Global Development Policy Center, claims that a $500 million loan was issued by China Eximbank in December 2009. However, AidData relies on the identity of the lender (CDB) that was disclosed by the Venezuelan Government in a public filing with the U.S. Securities and Exchange Commission (SEC).
Number of official sources
3
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Banco de Desarrollo Económico y Social de Venezuela (BANDES) [State-owned Bank]
Pétroleos de Venezuela S.A. (PDVSA) [State-owned Company]