Active Development AidData Chinese Aid

[China Co-Financing Fund] IDB administers $30 million loan from CHC for Ciudad de la Costa-West Area Sanitation Project

$30M USD

Funder	People's Bank of China (PBC)
Recipient Organization	Government of Uruguay
Country	Uruguay
Start Date	Feb 13, 2015
End Date	Mar 01, 2029
Duration	5,130 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`37335`

Grant Description

[China Co-Financing Fund] IDB administers $30 million loan from CHC for Ciudad de la Costa-West Area Sanitation Project On February 13, 2015, the Inter-American Development Bank (IDB) signed a loan contract with the Government of Uruguay to finance the Ciudad de la Costa-West Area Sanitation Project, through which the IDB would provide $45 million from its ordinary capital (Loan 3258/OC-UR), and the People's Bank of China would provide $30 million (Loan 3259/CH-UR) via the China Co-Financing Fund for Latin America and the Caribbean (CHC).

The IDB approved this loan financing on July 23, 2014, and it refers to this project as "UR-L1094 : Ciudad de la Costa-west area Sanitation Project".

📋 Loan / Grant Terms

💰 Loan Amountcarries a 25-year maturity and a 5-year grace period

📅 Maturity25 years

⏳ Grace Period5 years

The borrower is responsible for paying a LIBOR-based interest rate plus the applicable lending spread for the Bank's ordinary capital loans. The IDB lending spread in Semester 1 of 2015 was 0.85% with a 0.25% credit (commitment) fee.

The objective of this project is to expand sanitation coverage in the western zone of Ciudad de la Costa, to improve quality and operational efficiency of water service in the west and central zone of Ciudad de la Costa, and to strengthen the capacity to operate and maintain the sanitation system. This project will improve sanitation and water delivery services to an estimated 20,000 people.

The borrower and executing agency is the National Water Supply and Sanitation Administration (OSE). The IDB lists the project status as "Implementation".

The China Co-Financing Fund was established on January 14, 2013 with a contribution of $2 billion by the People's Bank of China, and it is administered by the IDB. For more information, see umbrella Record ID#86526.

📋 Staff Comments

For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
The IDB lending spread data are drawn from https://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=EZSHARE-1436601171-376.
All of the IADB contract and project documentation can be accessed via https://www.iadb.org/en/project/UR-L1094.
The CHC loan agreement can be accessed in its entirety via https://www.dropbox.com/s/ux8zd2gbi5cick1/Uruguay%202015%20China%20Co-Financing%20Fund%20for%20Latin%20America%20and%20the%20Caribbean%20%28CHC%29%20Loan%20for%20Proyecto%20de%20Saneamiento%20de%20la%20Ciudad%20de%20la%20Costa-Zona%20Oeste.pdf?dl=0.

📚 Sources & References

ASUSTO 2 5 5 - Presidencia
Audit Report Consolidated Fiscal Year 2015
Audit Report Consolidated Fiscal Year 2018
Audit Report Consolidated Fiscal Year 2019
Audit Report Consolidated Fiscal Year 2020
Audit Report Consolidated Fiscal Year 2021
Audit Report Consolidated Fiscal Year 2023
BID financiará saneamiento de Ciudad de la Costa
Contrato de Prestamo No. 3259/CH-UR
Innovación en Uruguay
PROGRAMA DE INNOVACIÓN PARA EL DESARROLLO PRODUCTIVO (UR-L1096)
PROYECTO DE SANEAMIENTO CIUDAD DE LA COSTA – ZONA OESTE: Préstamo BID Nº 3258/OC - UR
ARRENDAMIENTO DE SERVICIOS
Public Report 2014
Public Report 2015
Public Report 2016
Public Report 2017
Public Report 2018
Public Report 2019
Public Report 2020
Public Report 2021
Public Report 2022
Public Report 2023
Public Report Jan-Jun 2024
Resolución de Directorio N° 965/14
UR-L1094 : Ciudad de la Costa-west area Sanitation Project
Uruguay to expand sewage network and improve drinking water quality 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.