Overview

Chinese Government reschedules Cuba's debt from 1990 loan agreement in 2000 (Linked to Record ID#69225)

Commitment Year•2000Country of Activity•CubaDirect Recipient Country of Incorporation•CubaSector•Action Relating To DebtFlow Type•Debt rescheduling

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2000

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

Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

Government of Cuba

Loan description

Chinese Government reschedules Cuba's debt from 1990 loan agreement in 2000 (Linked to Record ID#69225)

Interest type•Fixed Interest Rate

Narrative

Full Description

Project narrative

In 2000, the Chinese Government rescheduled the debt repayment schedule of a government loan it had issued to Cuba in 1990 by extending it for 10 years. The rescheduled repayment period was to begin by the end of 2010. However, on December 21, 2010, during the 23rd Session of the Intergovernmental Commission between Cuba and China, the Cuban Government and the China Export & Credit Insurance Corporation (SINOSURE) signed an exchange of letters to extend the repayment period by another 10 years (see linked Record ID#69225).