Overview

China reschedules Cuban interest-free ETCA loan (Linked to Record ID#110963)

Commitment Year•2015Country of Activity•CubaDirect Recipient Country of Incorporation•CubaSector•Action Relating To DebtFlow Type•Debt rescheduling

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 28, 2015

Start (actual): Jan 28, 2015

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

Government Agencies

China Ministry of Commerce

Receiving agencies

Government Agencies

Cuba Ministry of Foreign Trade and Foreign Investment

Loan description

China reschedules Cuban interest-free ETCA loan (Linked to Record ID#110963)

Interest rate (t₀)•0%Interest type•Fixed Interest Rate

Narrative

Full Description

Project narrative

On 28 January, 2015, during the XXVII Bilateral Intergovernmental Commission, officials from the China Ministry of Commerce signed an agreement to postpone an interest-free loan to Cuba's Ministry of Foreign Trade and Foreign Investment. The original loan was committed via an Economic and Technical Cooperation Agreement (ETCA) between the Government of Cuba and the Government of the People's Republic of China during President Xi Jinping's visit to Havana on 22 July 2014. The ETCA details the granting of an interest-free loan for the supplies of materials and equipment and execution of projects agreed upon by both governments.