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Export-Import Bank of China to provide USD $30 million loan for solar panel purchase
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Banco de Costa Rica S.A. (BCR) |
| Country | Costa Rica |
| Start Date | Jun 03, 2013 |
| End Date | Aug 17, 2029 |
| Duration | 5,919 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 37377 |
Grant Description
Export-Import Bank of China to provide USD $30 million loan for solar panel purchase On June 3, 2013, Chinese President Xi Jinping and Costa Rican President Laura Chinchilla signed a financing agreement of 30 million USD preferential loan for the purchase of 50,000 solar panels.The expected borrower of the China Eximbank loan is the Banco de Costa Rica (a state-owned commercial bank in Costa Rica).
The loan will be used for the purpose of building a 10 MW solar power plant and providing solar power to 28,000 families that still lack of electricity in remote and indigenous areas within the country. The proceeds of the loan were supposed to be used to facilitate the 50,000 solar panels from China.
This project, however, was suddenly cancelled by the Costa Rican Institute of Electricity (ICE) on February 6th, 2015.
Sources & References
- Xi visits Costa Rica, agree on $2 billion in projects
- China will finance solar panels to Costa Rica, for reaching a 100% electricity coverage in homes
- 习近平访问哥斯达黎加成果丰硕
- 哥斯达黎加国家电力电信公司将在未来5年着力发展太阳能发电
- China financiará paneles solares para que Costa Rica alcance el 100% de cobertura eléctrica en hogares
- China financiará paneles solares para llegar a 100% de cobertura eléctrica en hogares costarricenses
- Invierta en Costa Rica
- Costa Rica y China firman convenios de cooperación tras reunión en San José
- Cooperation Agreement Between EXIM Bank of China and Banco de Costa Rica
- Cese de plan piloto del ICE alarma al sector energético 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
Banco de Costa Rica S.A. (BCR)
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