Active Development AidData Chinese Aid

Chinese Government extends additional $70 million to credit line for Phase 2 of Hospital Modernization Project (Linked to Record ID#36184)

$70M USD

Funder	China Ministry of Commerce
Recipient Organization	Government of Cuba
Country	Cuba
Start Date	Nov 19, 2008
End Date	Jun 11, 2027
Duration	6,778 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`36185`

Grant Description

Chinese Government extends additional $70 million to credit line for Phase 2 of Hospital Modernization Project On November 19, 2008, Chinese Government officials signed an agreement extending an additional $70 million to a $350 million line of credit from 2005 for the second phase of Cuba's project to expand and upgrade its hospitals.

The original line of credit was provided by China Development Bank (as captured via Record ID#36184).

Raul Castro and Hu Jintao at the Palace of the Revolution presided over the signing of the Economic and Technical Cooperation Agreement that 'backs up' this hospital repair credit line extension as well as the emergency hurricane relief aid (captured via Record ID#36187). By 2014, two Chinese-financed hospitals had been built on the island.

📋 Staff Comments

1. The project status has been recorded as Implementation, as it is unclear whether the credit line debt has been repaid.

📚 Sources & References

China's Hu Extends Cuba a $70 Million Loan
Aid of $8 Million
Communist allies China
Cuba wrap up landmark summit
Presidents of Cuba and China Celebrate Landmark Tie-Strengthening Summit
Cuba-China Connection Tightens
China signs trade deals with Cuba
INDEX:Business
International
Politics
China's Hu extends aid, loans to Cuba
LA ECONOMÍA DE CUBA HOY: RETOS INTERNOS Y EXTERNOS
Cuba's repayment of debt deferred
China's Hu puts off Cuba debt payments
Recent Developments in Sino‐Cuban Relations: Particularities and Advances 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 Cuba

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