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China Eximbank provides $113.8 million loan for supply of locomotives and passenger wagons to support the San Martin Railway
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Argentina Ministry of Economy |
| Country | Argentina |
| Start Date | Jan 22, 2010 |
| End Date | Oct 30, 2033 |
| Duration | 8,682 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 36929 |
Grant Description
China Eximbank provides $113.8 million loan for supply of locomotives and passenger wagons to support the San Martin Railway In 2010, the Export-Import Bank of China (China Eximbank) and Argentina’s Ministry of Economy and Public Finance signed a $113,828,594.05 loan agreement for the supply of locomotives and passenger wagons to support the San Martin Railway.
The borrower was to use the proceeds of the loan to finance 85% of the cost of a $134 million commercial contract with China South Locomotive and Rolling Industry (CSR).
The loan's (principal) amount outstanding was $94,392,273.70 as of December 31, 2015, $65,943,375.18 as of December 31, 2017, $37,494,476.66 as of December 31, 2019, and $23,270,027.34 as of December 31, 2020.
The purpose of the project was to acquire 24 diesel locomotives and 160 cars for the San Martín commuter network from China South Locomotive and Rolling Industry (CSR), as well as 45 railcars passengers for subway line A (Proyecto Suministro de Locomotoras y Vagones de Pasajeros para el Ferrocarril San Martin).
The new cars entered service in April 2014.
Staff Comments
- The China-Latin America Finance Database, which is co-produced by the Inter-American Dialogue and Boston University’s Global Development Policy Center, does not capture the China Eximbank loan that supported this project.
- The Government of Argentina’s Sistema de Análisis y Control de la Deuda (SIGADE) loan identification number is 27642000.
Sources & References
- China Exim Bank Offers Credit Line For Railway Cars In Argentina-Official
- Argentina
- China sign mining, train agreements, (China-CELAC) ESPECIAL: AL y el Caribe fortalecen posición geopolítica con Foro China-CELAC
- China funds Argentina's rail revival
- CSR fleet enters service on San Martín route, 2016 Memo From the Argentine Ministry of Finance
- Mapping of Public Procurement Regulations and Procedures in Argentina, - Query Re- Chinese Loans to Argentina
- Decreto 119/2010
- Decreto 119/2010
- LEY DE PRESUPUESTO – EJERCICIO 2010 ANÁLISIS DEL ARTICULADO, 2014 - “Año de Homenaje al Almirante Guillermo Brown, en el Bicentenario del Combate Naval de Montevideo” INFORME DEL JEFE DE GABINETE DE MINISTROS (INFORME Nº 88)
- BOLETIN OFICIAL Nº 31.836
- China-Latin America Finance Database
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- Parlamentaria Mixta Revisora de Cuentas 2021 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.
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Argentina Ministry of Economy
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