Active Development AidData Chinese Aid

MOFCOM provides RMB 20 million interest-free loan — via November 2009 ETCA — for unspecified purposes

¥20M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Ecuador
Country	Ecuador
Start Date	Nov 24, 2009
End Date	Nov 05, 2032
Duration	8,382 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`35845`

Grant Description

MOFCOM provides RMB 20 million interest-free loan — via November 2009 ETCA — for unspecified purposes On November 24, 2009, the Chinese Government and the Government Ecuador signed three Economic and Technical Cooperation Agreements (ETCAs). One of them provided an RMB 20 million interest-free loan for unspecified purposes.

📋 Loan / Grant Terms

💰 Loan Amountincluded a 20-year maturity

📅 Maturity20 years

⏳ Grace Period10 years

💹 Interest Rate0%

It is unclear if the loan proceeds were ever disbursed or utilized.

The funds were to be managed by China Development Bank (CDB) and the Central Bank of Ecuador (Banco Central del Ecuador).

The borrower was authorized to repay the loan in either freely convertible currency or Ecuadorian exportable goods agreed upon by the two governments. The loan was originally to be used over a 5-year period between December 1, 2009 and November 30, 2014. The repayment period was originally expected to run between December 1, 2019 and November 30, 2029.

However, on January 7, 2015, the period over which the loan could be used (the availability period) was extended to December 1, 2014 and November 30, 2019, and the repayment period was extended to December 1, 2024 and November 30, 2034.

📋 Staff Comments

1. The loan agreement can be accessed in its entirety via https://docs.aiddata.org/ad4/pdfs/how_china_lends/ECU_2010_458.pdf2. This record should not be confused with Project ID#88169, which captures an ETCA that provided a 20 million RMB credit line as well, though in February 2009, not November 2009.

📚 Sources & References

A Line in the Equatorial Forests: Chinese Investment and the Environmental and Social Impacts of Extractive Industries in Ecuador
China's Embassy to Ecuador donated 5 computers to a training center in Ecuador(中国驻厄瓜多尔使馆向厄手工业培训中心捐赠电脑)
Correa bewails China negotiations
Ecuador buys Chinese warplanes
Ecuador buys Chinese warplanes
Ecuador buys US$442m Chinese warplanes
Ecuador is seeking export positioning in China
Ecuador quiere más inversión china
Ecuador y China fortalecerán cooperación en ciencia y tecnología
It Takes Two to Explore Ecuadorian Oil Reserves
Letter of Exchange No. 15544/GM/SAAO/DAO/2015
Official Registry No. 56 - Monday
August 12, 2013 First Supplement
Registro Oficial Año I -- Quito
Miércoles 14 de Abril del 2010 -- N° 171
Registro Oficial No 171 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.

All Grantees

Government of Ecuador

Interested in applying for this grant?

Complete our application form to express your interest and we'll guide you through the process.

Apply for This Grant