Chinese Government reschedules Cuba's outstanding debt obligations

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Cuba
Country	Cuba
Start Date	Nov 19, 2008
End Date	Feb 16, 2026
Duration	6,298 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`36186`

Grant Description

On November 19, 2008, the Chinese Government agreed to extend the repayment period of a 1998 loan to Cuba worth $7.2 million by five additional years.

On the same day, China also agreed to extend the repayment period for an unspecified amount of trade-related debt that Cuba accumulated in 1995 by ten additional years.

The agreement to defer the repayments was made in acknowledgement of the estimated $10 million worth of damage caused by hurricanes Gustav, Ike and Paloma earlier in 2008 as well as the global economic crisis.

📚 Sources & References

China/Latin America politics: Deepening ties
胡锦涛访问古巴
China's Hu puts off Cuba debt payments
Cuba's repayment of debt deferred 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.