Active Development AidData Chinese Aid

China Eximbank provides RMB 628 million government concessional loan for the Route 32 Renovation Project (Linked to Record ID#37364)

¥628K RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Costa Rica
Country	Costa Rica
Start Date	Jun 03, 2013
End Date	Dec 20, 2030
Duration	6,409 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`39847`

Grant Description

China Eximbank provides RMB 628 million government concessional loan for the Route 32 Renovation Project On June 3, 2013, the Export-Import Bank of China and the Government of Costa Rica signed two financing agreements worth $396 million for the Rehabilitation and Extension of National Route N° 32 Cross Section Route 4-Limón.

The Costa Rican Government approved these financing agreements on March 10, 2015 through Law N° 9293.

The first agreement is a USD-denominated buyer's credit loan (ID# 1420202052013211015) worth $296 million (captured via Record ID#37364).

📋 Loan / Grant Terms

💰 Loan Amountloan (BCL) carries the following borrowing terms: a 4% interest rate

⏳ Grace Period5 years

💹 Interest Rate4%

The second financing agreement is a government concessional loan (GCL) agreement [CHINA EXIMBANK GCL NO. (2013) 30 TOTAL NO. (475) 1420203052013111013] worth RMB 628 million (as captured via Record ID#39847).

📋 Loan / Grant Terms

⏳ Grace Period5 years

The borrower was expected to use the proceeds of the GCL and BCL to finance 85% of the cost of a $465,593,387.06 commercial (EPC) contract [CONAVI-CHEC-00] between Costa Rica's National Road Council [Consejo Nacional de Vialidad] (CONAVI) and China Harbour Engineering Company Ltd. (CHEC), which was signed on June 3, 2013.

The purpose of the project is to expand a 107-kilometer section of National Route 32 from two to four lanes. This road section begins at the Route 4 junction at Frío river and extends to Puerto Limón’s district center.

National Route 32 connects San José with the port of Limón. 80% of Costa Rican exports and imports go through the ports of Moín and Limón, as it is the main connection with the ports of the eastern United States, Europe, and South America. CHEC is the EPC contractor responsible for project implementation.

CONAVI issued an order to CHEC to commence work on November 20, 2017. The project was originally expected to take 42 months from the start date.

However, it has faced a variety of delays related to land expropriation, tree cutting and clearing activities, environmental challenges, relocation of utilities, archaeological studies at five locations, and also cultural and language barriers. The initial planned completion date was October 4, 2020.

However, according to Service order (O.S.-7) issued by CONAVI to CHEC on January 6, 2020, indicating that the new deadline for completion of the project was March 27, 2021.

Another service order (O.S.-11) issued by CONAVI on February 25 2021, indicated that the new deadline for completion of the project was May 22, 2022. As of March 2019, the project had achieved a 9% completion rate.

On September 2, 2023, the second section of the Costa Rica Highway 32 project, totaling 20.6 kilometers, was delivered and opened to traffic. As of December 2024, 91.85% of the project has been completed, with a target completion date of May 28, 2025.

📋 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, characterizes this project as being supported by a single $395 million USD loan from the ‘Chinese government’ and ‘Ex-Im Bank’. However, AidData captures the project as being supported by two separate China Eximbank loans: a RMB 628,000,000 government concessional loan (GCL) and a $296,000,000 USD buyer’s credit loan. Each China Eximbank loan agreement is available in its entirety via https://www.masterlex.com/ResumenesDiarios/Gaceta/2013/Noviembre/ALCA127_01_11_2013.pdf and https://docs.aiddata.org/ad4/pdfs/how_china_lends/CRI_2013_426.pdf2. Costa Rican Law N° 9293, which ratified the two loan agreements, refers to the project as 'proyecto rehabilitación y extensión de la ruta nacional N° 32 sección cruce ruta 4-Limón' and 'Proyecto de Diseño, Rehabilitación y Ampliación de la Ruta Nacional No.32’.
There are several web resources for this project. There is a section of the CONAVI website dedicated to this project, including financial and implementation details: https://conavi.go.cr/ruta-32. There is also a website powered by CONAVI dedicated to this project, including financial and implementation details: https://www.ruta32.cr/. Lastly, there is a YouTube channel exclusively for this road project (Channel name: Ruta 32 Costa Rica): https://www.youtube.com/channel/UCpFEoi7YAvWiMKGhbKMS2tA.

📚 Sources & References

20250121 UERN32 IPRN32 CA dic 2024
ALCANCE DIGITAL Nº 127
Ampliación de la Ruta Nacional No. 32
Anexos Informe Seguimiento I Semestre 2023
Anexos Informe Seguimiento II Semestre 2023
Anexos. Informe General de Seguimiento Programas y Proyectos I Semestre 2023
Avance Fisico-Financiero Informe Ejecutivo de Obras No. 6 (Diseño
Rehabilitación y Ampliación de la Ruta Nacional N° 32 Carretera Braulio Carillo)
China lends Costa Rica $400 mln on Xi visit
China selects Costa Rica over the other so-called retirement havens
China to build $485 million road. (COSTA RICA)
China-Latin America Finance Database
Con orden de inicio a ampliación y rehabilitación de Ruta 32 el próximo lunes
CONAVI autoriza traslado de fecha para concluir ampliación y rehabilitación de la Ruta 32
Costa Rica at Crossroads in Courtship with Beijing
Costa Rica negotiates with a Chinese bank to finalize highway to the Caribbean
Costa Rica signs loan with China to fund expansion of highway to Costa Rica's Caribbean
DESCRIPCIÓN DE LOS CRÉDITOS EXTERNOS VIGENTES Y EN EJECUCIÓN A MARZO 2023
EEFF CONAVI CN Consolidados a Abril 2023
El panorama de los $200 millones que enfrentan a CHEC y al Conavi
Empresa china Chec contratará a 600 personas adicionales para obras en Ruta 32
ESPECIAL: Empresa china iniciará ampliación de importante carretera en Costa Rica
Estudio de Impacto Ambiental Proyecto: 'Rehabilitación y Ampliación de la Ruta Nacional Nº 32
Sección: La intersección con la Ruta Nacional Nº 4-Limón.'
Exporters and Limón business interests push for Chinese loans
Fase 3- Estudio Funcional Ruta 32
GeoPortal
Gobierno admite que ampliacion de la ruta a Limon tomara mas tiempo de lo precvisto
Gobierno da a constructora CHina ilusa orden de inicio de via a limon
Government takes on US$400mn loan with CHina for road 32 expansion
Hacienda
MOPT y EXIMBANK de China valoran hoja de ruta que permita finalizar construcción de Ruta Nacional 32, https://www.crhoy.com/nacionales/un-ano-sin-gran-avance-conavi-pide-a-empresa-china-apurar-el-paso-en-ruta-32/, https://www.nacion.com/el-pais/infraestructura/mopt-encara-a-constructora-china-por-desordenes-en/CGVOWXF2OVFYHOWWQTXSEYGFUQ/story/
Informe de Avance Proyecto: 'Rehabilitación y ampliación a 4 (cuatro) carriles de la Ruta Nacional No. 32, sección: intersección con la Ruta Nacional No. 4-Limón'
Informe de Ejecución Presupuestaria Conavi 2023
Informe Estadístico I Trim 2023
Informe Estadístico III Trimestre 2023
INFORME MENSUAL DE AVANCE No. 30
La Ruta 32: 107 kilómetros de un costoso embrollo chino en Costa Rica
Lawmakers and Limón group press for two Chinese loans
Lawmakers approve Chinese loan for expanding Route 32 to the Caribbean
Lawmakers pass $395 million loan for Limón Route 32 in final debate
Ley N° 9293 [Aprueba financiamiento al proyecto rehabilitación y extensión de la ruta nacional N° 32 sección cruce ruta 4-Limón]
Modificación al Artículo 1° de la Ley No.9411
Ley de Presupuesto Ordinario y extraordinario de la República para el Ejercicio Económico del 2017, publicada en el Alcance Digital No.299.A, 299.B y 299.C a La Gaceta No.238 del 12 de diciembre del 2016.
Monthly Progress Report – December 2024
National Road Nework
National Route 32 (Costa Rica)
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q1 2021
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q1 2022
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q1 2023
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q1 2024
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q2 2021
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q2 2023
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q2 2024
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q3 2021
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q3 2023
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q3 2024
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q4 2019
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q4 2020
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q4 2021
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q4 2022
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q4 2023
NOTAS EXPLICATIVAS A LOS ESTADOS FINANCIEROS - Q4 2024
OPINION LEGAL 05-2015
Original Loan Agreement
Programas/Proyectos de Inversión en ejecución financiados con recursos externos
Rehabilitación y ampliación de la Ruta 32
Route 32 Expansion Project
Route 32: CHEC receives a new extension to December 2024 to finish works
Ruta 32 Costa Rica YouTube Channel
Ruta 32 Project Website
Xi's trip to invigorate investment in Costa Rica
中国放贷给哥斯达黎加收取利息达1.14亿美元
中港湾承建哥斯达黎加公路扩建项目获批
公司领导拜会哥斯达黎加政府要员并签订32号公路项目合同
刘晓峰参赞出席哥斯达黎加利蒙市32号公路扩建项目融资法案签署仪式
哥斯达黎加（2018年版）
哥斯达黎加《共和国报》称中国国家主席习近平到访将推动32号公路扩建项目
哥斯达黎加国家总审计署批准32号公路扩建项目合同
哥斯达黎加政府发布32号公路项目有关疑点澄清报告
总统出席！哥斯达黎加32号公路第二段（20KM）顺利交付通车 (The President attended! The second section (20km) of Costa Rica Highway 32 was successfully delivered and opened to traffic) 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.