Active Development AidData Chinese Aid

Chinese Government provides 10 million RMB interest-free credit line for unspecified purposes through ETCA (June 2006)

¥10M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Ecuador
Country	Ecuador
Start Date	Jun 02, 2006
End Date	Apr 01, 2030
Duration	8,704 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`35815`

Grant Description

Chinese Government provides 10 million RMB interest-free credit line for unspecified purposes through ETCA (June 2006) On June 2, 2006, representatives of the governments of China and Ecuador signed an Economic and Technical Cooperation Agreement (ETCA), which provided the government of Ecuador a 10 million RMB (about 1.2 million USD) interest-free credit line.

Per the original ETCA, the credit line could be used for five years, between July 1, 2006, and June 30, 2011. Following was five years of additional grace (for a total grace period of ten years). The ten year repayment period took place following this, between July 1, 2016, and June 30, 2026.

However, in Letters of Exchange signed and countersigned July 24, 2013, the period over which the funds could be used was changed moved to between July 1, 2011, and June 30, 2016. The repayment period was additionally postponed to between July 1, 2021 and June 30, 2031. The projects funded through this credit line are unknown.

Banking procedures were handled by the Government of Ecuador and the China Development Bank.

📋 Staff Comments

This project should not be confused with #35814, which was a grant provided via and Economic and Technical Cooperation Agreement signed on the same day, also for 10 million RMB.

📚 Sources & References

China otorga créditos por 2,4 millones de dólares a Ecuador
CONVENIO DE COOPERACIÓN ECONÓMICA Y TÉCNICA ENTRE EL GOBIERNO DE LA REPÚBLICA DEL ECUADOR Y EL GOBIERNO DE LA REPÚBLICA POPULAR CHINA, [Letters of Exchange Nro. 10196/GM/SAAO/DAO/2013 and N.O. No.(2013)018] Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.