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Export-Import Bank of China to provide USD $100m loan for public transport fleet replacement
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Costa Rica |
| Country | Costa Rica |
| Start Date | Jun 03, 2013 |
| End Date | Aug 22, 2033 |
| Duration | 7,385 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 40701 |
Grant Description
Export-Import Bank of China to provide USD $100m loan for public transport fleet replacement On June 3, 2013, President Xi Jinping of the People's Republic of China and President Laura Chinchilla of Costa Rica signed an agreement stipulating that China will loan USD $100 million to Costa Rica to finance greener transportation options for a fleet of bus and taxis.
Clean technology such as electricity, gas, and hybrid methods were considered as alternatives to the existing fleet.
According to a Cooperation Agreement between the the Export-Import Bank of China and the National Bank of Costa Rica, China's EXIM Bank will fund the transaction. This overall project will be co-financed by Korea and Japan, who will provide USD $50 million USD each. No official financing document has been signed yet.
Staff Comments
No evidence of China EXIM Bank loans are present in the Banco de Costa Rica's financial statements (viewable at bancobcr.com).
Sources & References
- China will finance the replacement of Costa Rica’s public transport fleet
- 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
- China lends Costa Rica $400 million on Xi visit
- Invierta en Costa Rica
- Cooperation Agreement
- China prestará US$30 millones a Costa Rica para construir planta de energía solar
- 中国为哥斯达黎加贷款更新12,000辆出租车和4000辆公交车
- Costa Rica: US$200 millones para cambiar taxis y buses 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
Government of Costa Rica
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