Bank of China authorizes $18 million credit line for agricultural improvement projects

$18M USD

Funder	Bank of China (BOC)
Recipient Organization	Government of Venezuela
Country	Venezuela
Start Date	Apr 16, 2001
End Date	Jun 19, 2027
Duration	9,560 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`35833`

Grant Description

Bank of China authorizes $18 million credit line for agricultural improvement projects On April 16, 2001, Bank of China signed a deal with the Government of Venezuela to provide an $18 million line of credit for agricultural improvement projects.

On May 10, 2001, the Government of Venezuela received 510 tractors and other equipment with funding from this line of credit.

📋 Staff Comments

The terms of lending are unknown. CAMC Engineering Co. LTD (CAMCE) was likely the contractor responsible for implementation of these projects; however, we have not yet identified clear evidence that this was indeed the case.

📚 Sources & References

China president ends Latin tour with pacts, praise from Venezuela's Chavez
Venezuela Farmers Get First Lot Of Chinese Tractors-Paper
Zemin se despidió de América Latina
Venezuela
十年历程
ACUERDOS SUSCRITOS ENTRE LA REPUBLICA BOLIVARIANA DE VENEZUELA Y LA REPUBLICA POPULAR CHINA (REGISTRADOS POR LA EMBAJADA EN BEIJING AL 25 DE MARZO 2010)
China y Venezuela suscriben acuerdos, 299La presencia económica de China en Venezuela 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.