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[China-Venezuela Joint Fund] Construction of 3rd Joint Satellite [Linked to Record ID#38316 and #58677]
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Banco de Desarrollo Económico y Social de Venezuela (BANDES)|China-Venezuela Joint Fund |
| Country | Venezuela |
| Start Date | Jan 01, 2013 |
| End Date | Jan 01, 2030 |
| Duration | 6,209 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 38297 |
Grant Description
[China-Venezuela Joint Fund] Construction of 3rd Joint Satellite A new communications satellite was authorized at the meeting between China and Venezuela in September of 2013.
The meeting included 27 agreements in which the two countries committed additional financing of US$5bn to a joint fund for a range of projects, taking the total funds to US$40bn. The satellite, known as VRSS-2, was ordered on October 5th of 2014 and will be in operation by 2017. It is being designed and built in China.
This project is partially funded by the $5 bln credit line secured by Maduro, also known as Tranche C of the China Venezuela Joint Fund (see Record ID#38316).
The China-Venezuela Joint Fund receives contributions from China Development Bank and FONDEN, and it is administered by BANDES. See Record ID#58677 for more information on the fund.
Sources & References
- Venezuela plans third satellite launch
- China
- Venezuela To Collaborate on New Earth Observing Satellite - See more at: http://spacenews.com/42109china-venezuela-to-collaborate-on-new-earth-observing-satellite/#sthash.qSwhrwlA.dpuf
- Venezuela Presents its Aerospace Achievements at UN
- VRSS 1, 2 (Francisco Miranda
- Antonio José de Sucre)
- China to help Venezuela launch third satellite
- 中国将为委内瑞拉研制并发射第三颗卫星
- Conatel y ABAE iniciaron formación satelital a distancia
- Programa satelital VRSS-2 “Antonio José de Sucre” será diseñado y ensamblado con profesionales de Venezuela y China
- Gaceta Oficial de la Republica Bolivariana de Venezuela
- China-Venezuela Economic Relations: Hedging Venezuelan Bets with Chinese Characteristics 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 Desarrollo Económico y Social de Venezuela (BANDES)|China-Venezuela Joint Fund
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